Portland Grain Review 07/25

July 25, 2023 Portland Price Trends 07-01-22 08-01-22 06-01-23 07-18-23 07-25-23 #1 SWW (bu) 9.50 9.00 7.15 7.20 7.70 White Club 9.50 9.00 7.15 7.35 7.95 DNS 14% 10.28 10.08 8.69 9.37 9.84 HRW 11.5% 10.23 10.00 8.67 8.62 9.34 #2 Corn (ton) 278.00 279.00 269.00 270.00 281.00 #2 Barley 245.00 235.00 220.00 210.00 210.00 Wheat...Even with defensive basis levels, west coast cash wheat bids moved sharply higher against limit gains across the futures complex in early week trade. Nearby white wheat bids moved to the highest level in 3 months, hard red winter posted the best prices in a month and hard red spring marked the highest prices in five months. West coast exporters also boosted club wheat premiums a dime, as the major production zones in Washington show diminished crop prospects. Crop Progress...Open hot and dry conditions allowed for winter wheat harvest to advance across the Pacific Northwest. Oregon is reported at 44% complete versus 31% average, Washington 20% cut and Idaho underway with 12% of the crop harvested. Spring wheat conditions showed Idaho is holding at 63% good to excellent while Washington slipped 3% to 40%. Shipments...Weekly export inspections showed a modest uptick in wheat movement off U.S. ports last week, coming in at 13.1 mb to put shipments for the year at 79 mb, which is 17% behind a year ago. Hard red spring was the big mover with 5.2 mb, followed by soft white with 3.8 mb. Top destination off the west coast was the Philippines with 5.2 mb followed by South Korea taking on 1.8 mb. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.