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North Central Oregon | Just reading Midco, the local co-op's grain market comments for today. They are reporting 6% of old crop left in the bins to be priced. Most of that will not be priced until the new crop is in. Midco covers north central Oregon. (Sherman, Wasco, Gilliam, parts of Morrow and Wheeler counties, Klickitat county in Washington. Several farmers from Jefferson County Oregon also haul to Midco as well.) In the local area most people haul to the co-op. There is not much on farm storage.
Prospects are not real good for a bumper crop this year with most stands looking pretty average. Midco suggesting that a good positive basis may stick around for awhile.
What have other co-ops around the Northwest white wheat growing areas been reporting as far as unsold white wheat left in storage?
Attaching today's grain dept. comments.
4/15/14
The Ukrainian crisis seems to be escalating today as the Ukraine attempts to establish control over towns in Eastern Ukraine. Futures continue to be supported by this and weather concerns throughout the United States. So far, there has been no supply interruptions out of the Black Sea. The biggest challenge will be to the corn crop as some farmers are having difficulty getting financing in the Ukraine. On the white wheat side, demand continues to be adeguate to good with Japan tendering this week for new crop bushels. White wheat supplies are tight. MCP estimates we have about 6% of the old crop yet to buy, much of which will not be sold, but carried into new crop instead. New crop white wheat prospects are considered average, so supplies should stay tight through the next crop year. These indications should be positive for basis moving forward. The labor dispute between the ILWU and Columbia and United Grain heated up over the weekend. The ILWU established a water- borne picket against a barge loaded at a Pasco grain facility that is destined for one of the exporters. The barge line union refused to pick it up citing that they will not cross a primary picket. This is the first time that the ILWU has picketed a facility other than those owned or controlled by Columbia or United. The court system will need to sort this out. So far, this action has had a negligible impact on wheat shipments along the Columbia/Snake system. We will watch this development closely.
Edited by Nor-C-Ore-Drylander 4/15/2014 13:08
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Northwest White Wheat
