Portland Grain Review 01/20

January 20, 2023 Portland Price Trends 01-01-22 08-01-22 12-01-22 01-13-23 01-20-23 #1 SWW (bu) 10.70 9.00 8.80 8.30 8.40 White Club 12.45 9.00 9.30 8.80 8.90 DNS 14% 10.78 10.08 10.18 9.92 9.91 HRW 11.5% 9.81 10.00 10.10 9.64 9.64 #2 Corn (ton) 274.00 279.00 295.00 296.00 298.00 #2 Barley 240.00 235.00 250.00 250.00 250.00 Wheat...Confirmation of renewed export demand gave west coast markets better footing heading into the weekend, as relatively strong sales for red spring and soft white wheat bolstered prices. Strengthening basis on white wheat was also indicative of improved exporter interest, as nearby basis firmed 20 cents from last week. Bid structures also flattened and took carries out of the white wheat market into April. Weekly Sales...USDA revealed that recent declines in U.S. wheat prices generated improved export demand, as total sales of 17.4 mb were the best level in a month. Overall sales now stand at 571 mb, which is 6% behind a year ago and 14% below the five-year average pace. Hard red spring came in as top seller last week with 6.6 mb, putting year-to-date commitments at 173 mb, which is 6% ahead of a year ago but 14% below average. White wheat saw the best sales since late October, registering 5.6 mb for the week to put commitments at 142 mb; 31% ahead of a year ago but 31% below average. Hard red winter secured 3.9 mb in new business and with 156 mb in the books, sets 35% behind a year ago and 7% below average. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.