Portland Grain Review 10/01
1 Oct 2020
October 1, 2020 Portland Price Trends 10-01-19 01-01-20 09-01-20 09-24-20 10-01-20 #1 SWW (bu) 5.90 6.15 5.35 5.55 5.70 White Club 5.90 7.65 5.70 5.90 6.05 DNS 14% 6.58 7.21 6.51 6.52 6.55 HRW 11.5% 5.61 6.26 6.20 6.26 6.49 #2 Corn (ton) 173.00 172.00 163.00 164.00 164.00 #2 Barley 150.00 140.00 130.00 130.00 130.00 Wheat...West coast wheat markets continued to see firmer white wheat prices this week, reflecting in stronger basis levels and supported by recent export demand. Basis remains near three-year lows but spot cash bids reached the best levels in over two months. Weekly Sales...USDA reported a rebound in U.S. wheat export demand as sales came in above the four-week average. Overall commitments increased by 18.6 mb last week, putting total sales at 514 mb which sets 8% ahead of a year ago and 9% above average. Hard red winter posted the best sale tally in a month at 10.4 mb, placing sales 8% ahead of a year ago and 17% ahead of the five-year average pace. White wheat booked 4.3 mb and with 110 mb in commitments, sets 27% ahead of a year ago and 15% above average. Hard red spring sales of 3.9 mb put the year-to-date total at 149 mb; 14% ahead of a year ago and 7% above average. Top Buyers...Mexico was the big U.S. wheat buyer with 7.7 mb of mostly hard red winter, followed by Taiwan with 3.3 mb, South Korea with 2.3 mb, Unknown at 2.2 mb and Japan with 2.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.