Portland Grain Review 06/02
2 Jun 2020
June 2, 2020 Portland Price Trends 06-01-19 08-01-19 05-01-20 05-26-20 06-02-20 #1 SWW (bu) 6.20 5.90 6.06 6.05 6.05 White Club 6.20 5.90 7.56 7.55 7.30 DNS 14% 6.43 5.98 6.77 6.88 6.79 HRW 11.5% 6.22 5.36 6.33 5.97 6.06 #2 Corn (ton) 182.00 170.00 144.00 140.00 130.00 #2 Barley 140.00 140.00 130.00 153.00 154.00 Wheat...Early-week trade on the west coast markets showed nearby soft white wheat bids mostly steady but a notable drop in club wheat premium. Exporters are anticipating increased club wheat planting this spring and that crop is thus far off to a good start in Washington. Hard red winter bids also remain firm for nearby delivery. Crop Progress...Winter wheat ratings were shuffled between categories over the past week, but the net effect left the overall index unchanged from the prior week. Idaho saw an 8% drop in good to excellent to 65%, Oregon was up 2 % to 42% and Washington slipped 2% to 85%. The overall weighted-index was unchanged at 382 on a 500 point scale and placed the crop at 103% of normal. The first assessment of spring wheat conditions shows Idaho good to excellent 29% below a year ago at 51% but Washington is up 21% at 80% as early plantings took advantage of recent moisture. Shipments...Weekly export inspections showed another relatively good week of shipments for U.S. wheat, coming in at 18.3 mb to place totals at 914 mb and nearly on par with a year ago. Top shipper was hard red winter with 11.4 mb followed by white wheat with 4.2 mb. China was the top destination off the west coast, taking 4.8 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.