Portland Grain Review 02/03

February 2, 2023 Portland Price Trends 02-01-22 08-01-22 01-01-23 01-26-23 02-02-23 #1 SWW (bu) 10.75 9.00 8.55 8.40 8.35 White Club 12.50 9.00 9.05 8.90 8.50 DNS 14% 10.25 10.08 10.19 10.00 10.03 HRW 11.5% 9.86 10.00 10.08 9.84 10.07 #2 Corn (ton) 283.00 279.00 302.00 299.00 298.00 #2 Barley 240.00 235.00 250.00 250.00 250.00 Wheat...After showing some early week spark, west coast cash markets drifted a bit with weaker futures the past two days. Notable shifts in bids showed the club wheat premium to white wheat slip by 35 cents this week. Relative strength in the Kansas City futures also put the hard red winter 11.5% protein bids back above dark northern spring 14% protein. Weekly Sales...USDA showed that U.S. wheat export demand took an about face over the past week, slipping from relatively good interest over the past two weeks. Overall sales of 5 mb came in at half the 4-week average to place year-to-date commitments at 594 mb, which sets 6% below a year ago and 13% behind the 5-year average pace. White wheat registered 2 mb for the week and with 151 mb in commitments, stands 35% ahead of a year ago but 30% behind average. Hard red spring garnered 1.4 mb, putting the year-to-date total at 177 mb; 4% ahead of a year ago and 15% behind the average pace. Hard red winter booked less than a million bushels in new business over the past week. USDA switched a prior 2.2 mb sale classifed as unknown to Egypt, a notable first sale to that country this year, and 2.4 mb of white wheat was sold last week to another "unknown". -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.