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February 18, 2020
Portland Price Trends
02-01-19 08-01-19 01-01-20 02-11-20 02-18-20
#1 SWW (bu) 6.52 5.90 6.15 6.30 6.30
White Club 6.52 5.90 7.65 7.80 7.80
DNS 14% 6.79 5.98 7.21 7.06 7.14
HRW 11.5% 6.59 5.36 6.26 6.19 6.32
#2 Corn (ton) 169.00 170.00 172.00 175.00 174.00
#2 Barley 140.00 140.00 140.00 140.00 140.00
Wheat...A stronger open across the futures markets pulled west coast
wheat markets higher this morning, with basis levels holding steady on
the protein wheats. Exporter bid structures show a modest carry in the
white and hard red winter markets, while dark northern spring bids are
showing a premim for nearby delivery.
Shipments...Weekly export inspections showed another relatively good
week of U.S. wheat shipments, coming in at 18.4 mb to put year-to-date
totals 12% ahead of a year ago at 651 mb. Top shipper for the week was
hard red winter with 6.6 mb, followed by hard red spring at 5.9 mb and
soft white with 2.4 mb. Top destinations off the west coast included
the Philippines, Thailand, Taiwan and Japan; each taking near 2 mb.
-Norm Ruhoff Contributing Analyst
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