Portland Grain Review 08/01

August 1, 2023 Portland Price Trends 08-01-22 08-01-22 07-01-23 07-25-23 08-01-23 #1 SWW (bu) 9.00 9.00 7.00 7.70 6.80 White Club 9.00 9.00 7.15 7.95 7.05 DNS 14% 9.77 10.08 8.79 9.84 9.00 HRW 11.5% 9.76 10.00 8.41 9.34 8.15 #2 Corn (ton) 276.00 279.00 261.00 281.00 274.00 #2 Barley 235.00 235.00 210.00 210.00 210.00 Wheat...The wheat futures complex was seeing the fifth straight day of declines on Tuesday and west coast cash wheat prices reflected the down- turn. Relative to the mult-month highs posted a week ago, white wheat was down 90 cents, dark northern spring off 84 cents and neary hard red winter was more than a dollar lower. Crop Progress...Winter wheat harvest continues to move along, slightly ahead of the average pace for Oregon and Washington with Idaho right on track with average. Recent hot and dry weather nipped conditions again, with good to excellent ratings for Washington slipping 5% from last week to 42% and spring wheat ratings down 4 points to 36%. While early yields are "average", lower test weights and higher proteins are being reported. Shipments...Weekly export inspections showed a marked improvement in wheat movement off U.S. ports last week, coming in at a marketing year best of more than 21 mb. Year-to-date shipments stand at 100 mb, which is 6% behind a year ago. Soft red winter was the big mover with 9 mb loaded, hard red spring registered 6.8 mb and soft white shipped 2.9 mb. Japan and Thailand were the big takers off the west coast. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.