| |
May 26, 2022
Portland Price Trends
05-01-21 08-01-21 04-01-22 05-19-22 05-26-22
#1 SWW (bu) 7.85 9.25 10.75 12.00 11.65
White Club 7.85 10.75 11.75 12.50 12.15
DNS 14% 8.59 10.33 11.45 13.95 13.72
HRW 11.5% 8.03 8.33 11.14 14.01 13.48
#2 Corn (ton) 299.00 251.00 320.00 338.00 333.00
#2 Barley 180.00 200.00 270.00 275.00 275.00
Wheat...West coast cash wheat prices generally drifted lower through
the week in tandem with the futures complex, but basis levles did show a
firmer tone. White wheat spot markets were down 35 cents week to week,
and nearly a dollar off recent highs. but basis to Chicago strengthened
more than 20 cent from a week ago. Cash bid declines were most prominent
in dark northern spring from last week, but basis did firm by 10 cents.
Hard red winter also saw basis strengthen a dime from a week ago and all
markets are showing mostly flat bid structure through new crop months.
Weekly Sales...Seasonal rolling of old crop sales brought a small net
decline to U.S. wheat sales, putting the total at 714 mb which is about
25% behind a year ago and the five-year average pace. New crop bookings
over the past week came in at 9 mb to place new crop commitments at 110
mb and 32% behind a year ago. By class, sales of hard red winter are 47%
behind a year ago for 2022/23 and white wheat commitments are down 45%.
-Norm Ruhoff Contributing Analyst
Copyright 2022 DTN/Telvent. All Rights Reserved.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
|
|
