Portland Grain Review 06/29

June 29, 2023 Portland Price Trends 06-01-22 08-01-22 05-01-23 06-22-23 06-29-23 #1 SWW (bu) 11.00 9.00 7.15 7.65 6.95 White Club 11.50 9.00 7.15 7.65 7.10 DNS 14% 12.77 10.08 8.76 9.54 8.96 HRW 11.5% 12.38 10.00 8.77 9.17 8.47 #2 Corn (ton) 322.00 279.00 271.00 271.00 260.00 #2 Barley 275.00 235.00 220.00 220.00 220.00 Wheat...It was a rough and tumble week for west coast wheat markets as the grain futures complex took an about face and stepped on the down escalator. Cash prices reflected the sharp declines, with white wheat posting a 70 cent decline from last week, dark northern off 60 cents, and hard red winter down 70 cents from last Thursday. Pacific Northwest weather calls for a traditional fourth of July week warmup after most areas saw good scattered precipitation this week. Weekly Sales...It was another week of subpar performance in terms of export demand for U.S wheat, as total sales came in at 5.7 mb to place year-to-date commitments at 155 mb, which stands 27% behind a year ago and 35% below the five-year average pace. Hard red winter booked 3.6 mb and with 34 mb in sales, sets 46% behind a year ago and nearly 60% off the average pace. Soft red winter saw 1.6 mb in new business and with 46 mb in sales stands 8% ahead of a year ago and 36% ahead of average. Both hard red spring and soft white booked less than 500,000 bushels, with white wheat sales of 25 mb setting 40% behind a year ago and 50% below the five-year average pace. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.