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November 29, 2022
Portland Price Trends
11-01-21 01-01-22 10-01-22 11-22-22 11-29-22
#1 SWW (bu) 10.60 10.70 9.30 8.85 8.75
White Club 12.60 12.45 9.80 9.35 9.25
DNS 14% 11.72 10.78 10.56 10.34 10.15
HRW 11.5% 9.60 9.81 11.09 10.35 10.06
#2 Corn (ton) 258.00 274.00 303.00 297.00 300.00
#2 Barley 240.00 240.00 240.00 250.00 250.00
Wheat...West coast white wheat markets continued to hold mostly steady
in early week trade, as basis levels have strengthened against the recent
retreat in Chicago futures. Bids on hard red winter and spring wheat were
more reflective of declines in the underlying futures, as spot bids moved
toward the low end of a three month trading range.
Shipments...Weekly export inpsections showed that wheat shipments off
the west coast remained at a virtual standstill last week, with exporter
efforts focused on soybeans. Overall U.S. wheat shipments came in at 7.2
mb, putting the marketing year total at 385 mb and 3% behind a year ago.
West coast ports loaded 17 mb of soybeans for China last week.
Crop Progress...Pacific Northwest winter wheat growing regions are in
the midst of an arctic blast, ushering in extreme cold temperatures this
week. The sharp temperature declines were preceded by snowfall and more
snow is expected through mid-week.
-Norm Ruhoff Contributing Analyst
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