Portland Grain Review 06/15
15 Jun 2023
June 15, 2023 Portland Price Trends 06-01-22 08-01-22 05-01-23 06-08-23 06-15-23 #1 SWW (bu) 11.00 9.00 7.15 7.20 7.40 White Club 11.50 9.00 7.15 7.20 7.40 DNS 14% 12.77 10.08 8.76 8.91 9.04 HRW 11.5% 12.38 10.00 8.77 8.43 8.44 #2 Corn (ton) 322.00 279.00 271.00 278.00 271.00 #2 Barley 275.00 235.00 220.00 220.00 220.00 Wheat...The weather-driven rally across the grain futures complex bolstered west coast wheat markets this week, with white wheat showing some additional strength. Exporters continued to prod the spot market for selling interest, with basis hugging 100 over Chicago futures most of the week and carries remaining flat into January. Weekly Sales...The competitive nature of global wheat markets showed through again, as higher U.S. wheat prices stymied export demand again last week. Total wheat sales came in at just 6.1 mb, putting new year sales at 145 mb which is 18% below a year ago and 30% behind the 5-year average pace. Hard red winter saw 2.6 mb in sales and with 29 mb in the books sets 40% below a year ago and 57% below average. Soft red winter saw 2.1 mb in sales and with 43 mb in commitments, sets 18% ahead of a year ago and 39% above average. Soft white garnered 1.5 mb for the week and with 26 mb in sales, sets 26% behind a year ago and 41% behind the five-year average pace. Mexico, Vietnam and Chile were top buyers. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.