Notice: Market Information Meetings All Meetings will be from 7:00 am to 8:00 am Please call the Odessa Office at 509-982-2691 if you are interested or have any questions Hope to see you there
Grain markets moved lower again to start the week with Chicago wheat and corn reaching new 4 year lows. Growing conditions in the cornbelt remain very good. After the initial reaction to the shooting down of the commercial jet over the Ukraine last week wheat markets have backed down. Export inspections for wheat last week totaled 19 million bu including 1.6 million bu for Soft White. Corn inspections came in at 37 million bu. Wheat, corn and soybeans all closed lower. Chicago wheat held up better than the other markets due to some spread unwinding by commodity funds. After the close the Weekly Crop Progress Report showed winter wheat harvest now 75% complete nationwide and 15% done in Washington. Corn conditions were unchanged from last week at 76% good to excellent. Soybean conditions improved 1% to 73% good to excellent. Spring wheat conditions in Washington are now rated only 20% good to excellent.
Market hours: AM 9:00-11:10, PM 3:00-4:30 No PM market on Fridays No PM Hard Wheat Markets
If you would like to sign up for direct deposit payments for grain sales click here to open a form you'll need to fill out and send in. After filling out the form mail it to our Odessa office, P.O. Box 247, Odessa, WA 99159. Thank you.
The soybean market is still reeling from USDA's July 11 supply and demand report where soybean ending stocks for 2013-2014 were increased to 140 mb, due to a reduction of residual use to a minus 69 million bushels. Maybe you are asking yourself: How can a demand category can possibly be negative?