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
10/11/24: Russian Exporters and Ag Ministry had thier meeting overnight and no big changes have hit the wires. Weekly export duties were increased (41%), but the $5/mt is already priced in current market expectations. Bigger story is where Russian Govt vs SocEcon call total Russian wheat production and use, leaving Exports to clear balance tables (an increasingly smaller/shrinking number)... where there is smoke there is fire and it would seem Russian export restrictions are a given sometime between Dec and Feb. Updated Black Sea weather forecasts have rain over large winter wheat areas the next 14 days. Something to continue to watch...
Wheat currently Down 7-10c Post Report (was up 5c), Corn down 1c (was up 3c)...
USDA WASDE Highlights/Recap: Dramatically Unchanged... WHEAT: The outlook for 2024/25 U.S. wheat this month is for reduced supplies, larger domestic use, unchanged exports, and lower ending stocks. Supplies are lowered 6 million bushels to 2,783 million, as reduced beginning stocks and lower production are partly offset by larger imports. Production is reduced 11 million bushels to 1,971 million, as reported in the NASS Small Grains Annual Summary released September 30. Imports are raised 10 million bushels to 115 million based on a strong pace of imports for the first three months of the marketing year. Domestic use is raised 10 million bushels to 120 million on higher feed and residual use. The NASS Grain Stocks report released September 30 indicated a yearto-year increase for first quarter (June-August) feed and residual disappearance from a year earlier. Exports remain at 825 million bushels with several offsetting by-class changes. Projected ending stocks are lowered by 16 million bushels to 812 million, but still up 17 percent from the previous year. The season average farm price is unchanged at $5.70 per bushel.
This month’s 2024/25 U.S. corn outlook is for smaller supplies, larger exports, and reduced ending stocks. Projected beginning stocks for 2024/25 are 52 million bushels lower based on the Grain Stocks report. Corn production is forecast at 15.2 billion bushels, up 17 million from last month on a 0.2-bushel increase in yield to 183.8 bushels per acre. Harvested area for grain is unchanged at 82.7 million acres. Total use is raised slightly to 15.0 billion bushels reflecting greater exports. With supply falling and use rising, ending stocks are cut 58 million bushels to 2.0 billion. The season-average corn price received by producers is unchanged at $4.10 per bushel.
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.
***Tri Cities Grain now offering Grain Settlement ACH Payments as well as Vendor ACH payments. 1 page form to fill out in order to set up the process. Please call with any questions Click here for the ACH Payment form
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Futures Quotes
Quotes are delayed, as of October 12, 2024, 05:14:40 PM CDT or prior.
Commentary
Cattle Pull Back into the Weekend -
Live cattle futures posted some weakness on Friday after a week of strength with contracts down 10 to 70 cents. There were 10 deliveries issued Wheat Closes with Weakness on Friday -The wheat complex posted lower trade across the three exchanges on Friday following USDA’s increase to the world stocks projection. Chicago SRW Cotton Falls on Stocks Hike -Cotton futures closed out Friday with contracts down 5 to 45 points, as USDA’s production cut didn’t go quite far enough to offset an export Hogs See Gains into the Weekend -Lean hog futures settled the Friday session with contracts up 5 to 70 cents the day. October expires on Monday. The national average base hog price Soybeans Fall Into the Weekend -Soybeans closed out the Friday session with contracts down 9 to 12 cents across the board. November added to last week’s losses, down another 32 Corn Closes Lower Following Yield Increase -Corn futures ended the Friday session with contracts down 1 ¼ to 3 ¾ cents across the board. December fell back 9 cents this week. The national Full commentary... |
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