Portland Grain Review 04/11

April 11, 2023 Portland Price Trends 04-01-22 08-01-22 03-01-23 04-04-23 04-11-23 #1 SWW (bu) 10.75 9.00 8.10 7.65 7.50 White Club 11.75 9.00 8.10 7.65 7.50 DNS 14% 11.45 10.08 9.48 9.77 9.53 HRW 11.5% 11.14 10.00 9.56 10.04 10.05 #2 Corn (ton) 319.00 279.00 278.00 288.00 287.00 #2 Barley 270.00 235.00 250.00 240.00 240.00 Wheat...West coast wheat prices posted a modest rebound in early-week trade, drawing support from slightly higher futures. Bid structures show white wheat bid flat through June, nearby hard red winter is at a 20 cent premium to June, and dark northern spring holds a 7 cent premium to new crop delivery. Crop Progress...PNW winter wheat ratings showed further declines for Idaho and Oregon over the past week, but the three-state weighted index held at 84% of average; the lowest rating since the winterkill year in spring of 1991. Idaho saw the good to excellent drop 7% to 10%, Oregon lost 2% in the category and is at 32%, while Washington held unchanged from last week at 39% good to excellent. Shipments...Weekly export inspections showed a solid rebound over the past week in U.S. wheat shipments, coming in double the prior week at 12 mb. Year-to-date date shipments now stand at 632 mb, which is 2% behind a year ago. Top shipper was soft white wheat, with 4 mb, with both hard red winter and spring wheat registering 3 mb each. Japan was the primary taker off the west coast and Thailand took on 2.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.