Portland Grain Review 02/23

February 23, 2023 Portland Price Trends 02-01-22 08-01-22 01-01-23 02-16-23 02-23-23 #1 SWW (bu) 10.75 9.00 8.55 8.45 8.30 White Club 12.50 9.00 9.05 8.45 8.30 DNS 14% 10.25 10.08 10.19 10.09 9.92 HRW 11.5% 9.86 10.00 10.08 10.45 10.00 #2 Corn (ton) 283.00 279.00 302.00 298.00 296.00 #2 Barley 240.00 235.00 250.00 250.00 250.00 Wheat...West coast wheat prices were reflective of declines across the futures complex this week with cash bids marking lower levels relative to last Thursday. For its part, white wheat markets saw basis strengthen by 20 cents as exporters work on coverage of recent sales. All three markets show bid structures being flat into April. Weekly Sales...USDA reported a slight improvement in export demand for U.S. wheat last week, coming in 2 mb above the prior week but about 4 mb below the four-week average at 7.7 mb. Year-to-date commitments now set at 607 mb, which is 5% behind a year ago and 18% behind the average pace of the past five years. Hard red spring booked 2.7 mb to put commitments at 182 mb, setting 6% ahead of a year ago and 17% behind average. White wheat also saw 2.7 mb in new business, going mostly to an unknown buyer, but with 152 mb in sales is 35% ahead of a year ago but 34% off the five- year average pace. Top buyers for the week were Taiwan, Japan and Nigeria with each booking about 1.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.