Portland Grain Review 02/21

February 21, 2023 Portland Price Trends 02-01-22 08-01-22 01-01-23 02-14-23 02-21-23 #1 SWW (bu) 10.75 9.00 8.55 8.60 8.45 White Club 12.50 9.00 9.05 8.60 8.45 DNS 14% 10.25 10.08 10.19 10.06 10.09 HRW 11.5% 9.86 10.00 10.08 10.38 10.36 #2 Corn (ton) 283.00 279.00 302.00 300.00 297.00 #2 Barley 240.00 235.00 250.00 250.00 250.00 Wheat...West coast white wheat prices came out of the extended weekend on a steady note, as basis levels strengthened to offset the weakness in Chicago futures. Recent export demand and limited farm selling interest remains supportive. Protein wheats were also holding ground relative to a week ago, with both hard red winter 11.5% protein and dark northern 14% basis levels firming. New crop August prices today showed white wheat at $8.00, hard red winter at $9.60 and dark northern spring at $9.76. Shipments...Weekly export inspections showed U.S. wheat shipments were down 20% from the prior week, coming in at 13.7 mb to put the year-to-date total 2.7% behind a year ago at 539 mb. Hard red spring was top shipper with 3.8 mb, followed closely by white wheat with 3.7 mb. Hard red winter moved 3.1 mb for the week. West coast ports showed China taking on 2.5 mb of wheat and 15 mb of soybeans, with vessels for Japan, Taiwan and Thailand also accounting for a total of 6.2 mb of wheat. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.