Portland Grain Review 03/01

March 1, 2022 Portland Price Trends 03-01-21 08-01-21 02-01-22 02-22-22 03-01-22 #1 SWW (bu) 7.60 9.25 10.75 11.00 11.00 White Club 7.60 10.75 12.50 12.50 12.50 DNS 14% 7.33 10.33 10.25 10.61 11.42 HRW 11.5% 7.48 8.33 9.86 10.05 11.93 #2 Corn (ton) 221.00 251.00 298.00 310.00 325.00 #2 Barley 170.00 200.00 240.00 240.00 260.00 Wheat..A rebound of more than $1 per bushel across the futures complex was apparent in hard red winter and spring wheat prices, while soft white basis weakened significantly in early-week trade. Hard red winter 11.5% protein cash markets surged to near $12 and in the process, returned to a 50 cent premium to dark northern spring 14 pro bids. New crop August bids showed red winter above $10.50 and red spring above $10.75. White wheat new crop moved above $9 per bushel. West coast barley bids acknowledged recent strength in corn and moved up $20 to $260 per short ton. Shipments...Weekly export inspections showed US wheat loadings backed off about 25% from the prior week, coming in at 15 mb to put year-to-date loadings 15% behind a year ago at 569 mb. Hard red winter moved a total of 5.5 mb for the week, followed by white wheat 3.3 mb and red spring at 2.8 mb. Nigeria and Columbia were top destinations for wheat off the west coast. China was the big taker of both soybeans and corn from PNW ports, with 12.7 mb and 8 mb respectively, and Japan took on 6.7 mb of corn. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.