Portland Grain Review 03/31

March 31, 2023 Portland Price Trends 03-01-22 08-01-22 01-01-23 03-24-23 03-31-23 #1 SWW (bu) 11.25 9.00 8.55 7.60 7.55 White Club 12.75 9.00 9.05 7.60 7.55 DNS 14% 11.59 10.08 10.19 9.42 9.72 HRW 11.5% 11.83 10.00 10.08 9.88 9.97 #2 Corn (ton) 313.00 279.00 302.00 284.00 286.00 #2 Barley 260.00 235.00 250.00 240.00 240.00 Wheat..Wheat futures failed to catch a spark from post-report rallies in corn and soybeans on Friday, and west coast cash wheat markets trailed lower. All wheat plantings came in at the top end of trade expectations and weighed on the wheat side of the complex. New crop bids for August delivery showed white wheat at $7.25, hard red winter 11.5% protein near the $9.30 mark and dark northern spring 14% protein at $9.68. Acreage...Pacific Northwest winter wheat acreage is expected to be up 6% from last year, and the largest area planted of the past three years. Spring wheat plantings, however, are expected to see respective declines of 8% and 11% for Idaho and Washington. Washington is expected to see a 2% increase in barley plantings, with bean and lentil acres also showing respective increases of 13% and 26%. Weekly Sales...USDA reported another lethargic week of export demand for U.S. wheat, coming in well below the four-week average at 5.6 mb to put commitments at 662 mb. Year-to-date totals stand 5% behind a year ago and 18% under the five-year average pace. Soft red winter accounted for the majority of sales last week, and Mexico was the top buyer. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.