HRW: + 5 cents each 1/2% above 11.5% to 13.0%; - 10 cents each 1/2% below 11.5%

DNS: + 3 cents each 1/4% above 14.0% to 15.5%; - 7 cents each 1/4% below 14.0%

SWW: + 0 cents each 1/10% below 10.5%; - 0 cents each 1/10% from 10.5% to 12.0%. Max = -$0.00

** CLUB WHEAT MAX 10.5% PROTEIN ONLY **

Premiums and Discounts are Subject to Change...Please Call to Confirm

June 30, 2025 Morning Markets Email:   https://s3.amazonaws.com/media.agricharts.com/sites/2446/Markets_AM_06_30_25.pdf

Wheat futures are trading a little lower this morning, down 1 to 4 cents in the A-U-G 2025 futures. Cash bids were delayed until after the WASDE and US Planted Acres / Stocks reports were released at 9 AM PST. The markets have a slightly bearish tone with favorable weather and nothing concrete in place as of yet on tariff agreements with several major trading partners. China has clarified there has been no agreement between the US and China, only an agreement to keep negotiating. It was thought that there was some agreement on dropping certain tariffs in exchange for releasing some restrictions on Chinese rare-earth minerals. Canada and the US appear to be back on track to a trade deal after a tense few days where Canada imposed a tax on certain US digital services and the US retaliated by increasing tariffs and ceasing trade talks. Canada has since rescinded the digital services tax and it appears talks have resumed. With the tariff deadline quickly approaching we should start seeing some formal announcements soon.

WASDE / US Planted Acres - Stocks reports: The WASDE report was slightly bullish with Wheat ending stocks projected 25 million bushels lower at 898 mbu due to an increase in projected exports. Corn ending stocks decreased 50 mbu to 1.8 bbu, also due to increased projected exports. Soybean ending stocks were unchanged. Wheat planted acres were estimated at 33.3 million acres, about unchanged from last estimate and 0.2% lower than last year. Wheat harvested acres estimated at 24.8 million acres, down 3.5% from the previous estimate and 4.9% lower than last year. US Wheat stocks were estimated at 850.5 mbu, up 22.1% from last year but about right at what was estimated. US Corn stocks came in at 4.64 bbu, down 7.1% from last year and at about what was estimated.

Hedge-to-Arrive contracts: If you have an HTA contract deliverable this harvest you should be watching the basis levels closely. Current harvest delivery basis for SWW is holding on at about 80 cents. If we see a sudden drop in the futures markets, it could provide an opportunity to lock in a higher basis before the cash bids catch up. 

Cash Futures Prices: Chicago A-U-G is down 1 at 539. KC A-U-G is down 4 at 529 and MPLS A-U-G is unchanged at 628. US Dollar is trading 0.45 lower at 96.95.

Effective July 1st, 2025 

We know every dollar counts, especially in agriculture, and that's why I'm delighted to announce that the Board of Directors has approved a 10% reduction in wheat handling rates. This will bring the rate down from 15 cents to 13.5 cents per bushel, effective July 1st, 2025.

 This decision was made with you, our valued members, at the forefront. We firmly believe that by reducing these rates, we can help put more money back into your pockets and support the vital work you do every day on your farms.  This is about strengthening our co-op together, and ensuring we continue to provide the best possible value for your hard-earned dollar.

 To help us continue making smart decisions that enrich our members, we'd greatly appreciate it if you could please take a few moments to fill out our Acres for Storage Survey at this link. Your input is so helpful as we plan for the future.

 Thank you for your continued loyalty and for being such an integral part of our co-op community. Your success is our success, and we're committed to doing everything we can to support you.

Sincerely,

Garrett Egland

General Manager