Portland Grain Review 05/16

May 16, 2023 Portland Price Trends 05-01-22 08-01-22 04-01-23 05-09-23 05-16-23 #1 SWW (bu) 11.10 9.00 7.65 7.20 7.40 White Club 11.60 9.00 7.65 7.20 7.40 DNS 14% 12.08 10.08 9.77 9.21 9.61 HRW 11.5% 12.48 10.00 10.05 9.54 9.81 #2 Corn (ton) 347.00 279.00 289.00 275.00 265.00 #2 Barley 275.00 235.00 240.00 220.00 220.00 Wheat...West coast white wheat markets regained and held higher ground in early-week trade. The decline in Chicago futures was met by exporters boosting basis 15 cents. Support stems from last week's USDA projections showing an 11% decline in US white winter wheat production from last year. Crop Progress...Warmer temperatures and intermittent precipitation were a welcome combination for Pacific Northwest winter wheat conditions, as the three state index moved up another point to 93% of average. Idaho good to excellent ratings held at 45%, but the "excellent" category doubled to 10%. Oregon saw good to excellent slip 2% to 34% and Washington also dropped 2% to 64%. Two extremes are apparent, as Washington and Idaho show 9% of the crop poor to very poor with Oregon at 27% in that category. Washington has nearly completed spring wheat plantings while Idaho lags the average pace with 76% planted. Shipments...Weekly export inspections revealed another relatively light late-season pace of U.S. wheat shipments, coming in at 8.8 mb to place the year-to-date total 3% behind a year ago at 687 mb. Loading activity off the PNW showed the Philippines and Japan taking on wheat, while China took on 14 mb of corn. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.