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

Market Email July 25, 2025:     https://s3.amazonaws.com/media.agricharts.com/sites/2446/Markets_AM_07_25_25.pdf

Wheat futures are trading lower this morning, down 0 to 6 cents in the S-E-P 2025 futures. Mostly favorable weather patterns, a firm U.S. dollar, and large crop prospects are weighing on prices this morning. The Wheat Quality Council Spring Wheat and Durum tour final all wheat yield estimate was 48.3 bushels per acre, down from last year's record 53.8 bpa. Spring wheat was 49 bpa vs 54.5 last year and a 44.6 five-year average. The U.S. and the E.U. are working on finalizing a trade deal. E.U. officials expect a potential deal at 15% tariffs but are prepared with a retaliatory package against the US if a deal can't be worked out before the deadline. The U.S. and South Korea reaffirmed their commitment to reach a trade agreement ahead of the Aug 1 U.S. - imposed deadline when the U.S. tariffs are set to rise. There are several other countries close to a deal and things could start falling into place rather quickly although each country has unique factors to negotiated. Trump has stated we will not go below 15% and could go as high as 50% tariffs depending on the situation.

The weekly export sales report showed a strong total for US wheat, totaling 712,000 MT export sales for the week, far above the 250-500k range of estimates. Wheat sales have been catching up to the pace needed to hit the USDA estimated total for the marketing year to slightly ahead of the pace needed. It puts a little more weight behind the saying "The cure for low prices, is low prices" as it appears US wheat is competitive on the world market. Some of the major buyers were Indonesia (117,000), Taiwan (92,000), Mexico (87,000), the Philippines (80,000), South Korea (60,000), and Chile (53,000). I don't think it is a coincidence that most of these countries are close to a tariff agreement with the US and may be anticipating some form of US Ag imports being part of the agreements. Corn sales for the week were at the upper end of the estimated  range for both old crop and new crop. Soybean sales were lower.

HARVEST HTA CONTRACTS: Current AUG/SEP basis is at 90 cents. Might be a good number to lock in if you plan on delivering on it.

Cash Futures Prices: Chicago S-E-P is down 6 at 535. KC S-E-P is down 4 at 523 and MPLS S-E-P is unchanged at 584. US Dollar is trading 0.43 higher at 97.81.

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