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Hours:Pasco Office Hours: 7:00 AM to 4:00 PM Monday -Friday Pasco Elevator Hours: 7:00 AM to 7:00 PM Monday-Saturday; Closed Sunday Burbank Elevators Hours: 8:00 AM to 4:00 PM Monday-Friday; Closed Saturday and SundayContact us if you want our bids sent by text or email daily
Office #509-545-0900 & Elevator #509-545-5179.
Call Tri-State Seed for all of your seed needs.
Contact Mason or John at 509-234-2500
Commentary
10/16/24: Rain in the forecast, a neutral WASDE report and a robust row crop harvest all dragging the ag complex lower this week. Since report day Friday HRW and DNS futures have lost 35-40 cents, corn 20-25 cents and SWW only a nickel despite Chicago futures dropping 30-35 cents. Southern plains of the US showing good moisture over the next week, Russia 10-15 day showing rains and corn harvest sits at 47% complete. The rains in Russia will help but are not a drought buster, weather patterns remain dry into November and the coverage isn’t spectacular over for the major wheat areas. Noise remains out of Russia about setting price floors on exports and limiting exports back half of the year. Russia FOB offers remain in the $230s today but the conversation we have heard repeatedly the past few days is wanting to set a price floor around $250. It appears the “suggestion” is that 12.5 pro floor should be $250, $245 for 11.5s and $240 for low protein. Russian forecasts and their FOB pricing/Export limits will continue to drive US wheat prices. This is a story that will play out over the next 6 months not in the immediate future. Corn harvest at 47% complete is ahead of the 5-year pace and reports on yields remain big. Soybean harvest at 67% complete ahead of 5-year pace and same story on big yield reports. Winter wheat planting is 64% complete, right in line with average pace. By state Montana and Oklahoma are behind pace. Montana is 68% planted compared to the 10-year average of 79%. There is plenty of time for the producer to get it in, but worth monitoring here in the PNW as Montana HRW basis drives our HRW basis. Washington Cap-and-Trade Rebates Start Aug. 26 It will be first-come, first-served when Washington distributes $28.5 million to partially refund cap-and-trade surcharges to farmers and haulers of farm goods for fuel. Click on the link below for full Captial Press article.
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Futures Quotes
Quotes are delayed, as of October 17, 2024, 08:33:36 PM CDT or prior.
Commentary
Cotton Settles Lower on Thursday -
Cotton futures were down 22 to 50 points across most contracts on Thursday. The outside markets are a pressure factor, with crude oil down Wheat Posts Strength on Thursday -The wheat complex posted gains across the three exchanges on Thursday. Chicago SRW futures were 4 to 4 ½ cents higher on the day. KC HRW contracts Cattle Closes Mixed on Thursday -Live cattle futures were mixed again on the Thursday session contracts anywhere from 50 cents lower to 22 cents higher. The 6 deliveries against Hogs Mixed at the Close -Lean hog futures were mixed with contracts 45 cents higher to 35 cents lower. The national average base hog price was reported at $76.15 on Soybeans Pull Out Gains on Thursday -Soybeans faced early weakness on Thursday, but bulls fought back to close the day with contracts up 1 ¾ to 8 ¾ cents as Nov was narrowing some Corn Comes Back into Thursday’s Close -Corn futures closed out the Thursday session with contracts puling off the early low and closing steady to 2 cents higher in the nearbys. Other Full commentary... |
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