Portland Grain Review 04/27

April 27, 2023 Portland Price Trends 04-01-22 08-01-22 03-01-23 04-20-23 04-27-23 #1 SWW (bu) 10.75 9.00 8.10 7.50 7.20 White Club 11.75 9.00 8.10 7.50 7.20 DNS 14% 11.45 10.08 9.48 9.43 8.79 HRW 11.5% 11.14 10.00 9.56 9.67 8.89 #2 Corn (ton) 319.00 279.00 278.00 285.00 271.00 #2 Barley 270.00 235.00 250.00 240.00 220.00 Wheat...The downdraft continued across the futures complex this week, and the declines were apparent in west coast cash wheat prices. PNW white wheat bids marked two year lows this week, but fared better than the two protein wheats which also saw old crop basis levels weaken. Export demand is also making a seasonal shift toward new crop deliveries. Weekly Sales...USDA showed some rolling of old crop sales into the new crop marketing year, with old crop sales netting out at 5.7 mb to put the year-to-date commitments at 687 mb. This stands 3% behind a year ago and 19% below the five-year average pace. Top seller in the old crop position was white wheat with 2.3 mb, coming primarily from a sale to Yemen. Soft white sales of 172 mb set 40% ahead of a year ago but 35% behind average. Soft red winter registered 1.3 mb and with 105 mb in the books, sets even with a year ago but 10% above average. Old crop hard red winter and spring wheat sales were both below 1 mb each. Commitments for the new marketing year stand at 37 mb compared to 83 mb a year ago. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.