February 5, 2016 Weekend Notes
Futures slumped heavy again this morning without a change in basis from Portland our cash price is at multiple year lows for white wheat. Egypt cancelled another tender this morning after only receiving 4 offers that were 11% higher than the last traded cargo as shippers are pricing a risk premium into their bids. Even with this risk premium offered their is no doubt the US is still way off value wise unless Egypt taps into foreign aid reserves to purchase non economical wheat elsewhere. The dollar finished higher today after reversing lower on Wednesday and Thursday. Chart support in Chicago and KC wheat is about ten cents away. Overall not much is trading as the farmer is not interested in pricing much grain at these levels and foreign buyers aren't at a point where they are too interested in buying additional grain.
All Prices are Delivered Coast
$1.00 Club Bid is for Max 12% Protein / Over 12% Protein Club Premium= +.25 Cents
See below for SWW/Club Protein Premium Scales
Merger Vote Results
CCGG's merger with Northwest Grain Growers has been approved by your membership with a total tally of 214 votes cast which is 72% of the membership with 90% voting FOR and 10% against.
As of May 1st, 2016 we will become Northwest Grain Growers. More information will be available as we progress.
Link to Northwest Grain Growers website: