News & Resources

Portland Grain Review 04/08

8 Apr 2021
April 8, 2021 Portland Price Trends 04-01-20 08-01-20 03-01-21 04-01-21 04-08-21 #1 SWW (bu) 6.10 5.60 7.60 6.70 6.70 White Club 7.60 6.00 7.60 6.70 6.70 DNS 14% 7.04 6.21 7.33 6.98 7.40 HRW 11.5% 6.30 5.71 7.48 6.80 6.97 #2 Corn (ton) 155.00 151.00 221.00 240.00 235.00 #2 Barley 130.00 130.00 170.00 180.00 180.00 Wheat...West coast white wheat markets have seen a dramatic decline in the old-new crop spread over the past two weeks, as major buying interest has shifted to new crop months. While soft white bids held steady near the $6.70 mark this week, spot bids for dark northern spring and hard red winter benefitted from stronger futures and a steady basis. Weekly Sales...USDA highlighted the shift to new crop buying interest for U.S. wheat last week, with combined old and new crop sales coming in at 19.5 mb, of which only 3 mb was old crop. Hard red spring did manage to book 2.6 mb for old crop, putting sales at 277 mb which is 3% above a year ago and 8% above average. Old crop hard red winter sales stand at 314 mb, down 9% and 3% respectively from a year ago and average, but saw 5.6 mb in new crop sales. White wheat saw a net loss for old crop on the week, but new crop sales of 8.5 mb included China rolling old sales with additional new crop purchases. Total old crop wheat sales stand at 925 mb, up 1% from a year ago and 6% above average. Total new crop bookings are at 63 mb compared to 47 mb a year ago. -Norm Ruhoff Contributing Analyst Copyright 2021 DTN/Telvent. All Rights Reserved.