Portland Grain Review 08/24

August 24, 2023 Portland Price Trends 08-01-22 08-01-22 07-01-23 08-17-23 08-24-23 #1 SWW (bu) 9.00 9.00 7.00 6.85 6.90 White Club 9.00 9.00 7.15 7.10 7.15 DNS 14% 9.77 10.08 8.79 8.39 8.30 HRW 11.5% 9.76 10.00 8.41 7.56 7.75 #2 Corn (ton) 276.00 279.00 261.00 250.00 248.00 #2 Barley 235.00 235.00 210.00 200.00 200.00 Wheat...West coast white wheat exporters continue to uncover some global buying interest which is providing price support at current levels. As a result, nearby basis remains relatively strong as export interest is being met by limited farm selling, keeping carries mostly flat. Weekly Sales...USDA revealed yet another week of relatively good export demand, especially for hard red spring and soft white wheat. Weekly sales of 14.9 mb came in just above the four-week average and with a total of 264 mb in commitments, stand 19% behind a year ago and 28% behind the five-year average pace. Hard red spring was the top seller with 5.8 mb and with sales of 95 mb, sets 4% ahead of a year ago but 9% below average. White wheat saw 5.6 mb in new business, putting sales at 52 mb which is 28% behind last year and 30% below average. Hard red winter registered 2.7 mb in sales, putting the year-to-date total at 50 mb; 49% behind a year ago and 61% below average. Top Buyers...Chile was the top buyer of U.S. wheat last week, securing 3.4 mb of mostly white wheat. South Korea booked 3.3 mb, the Philippines bought 2.6 mb and Mexico secured 1.9 mb. Yemen returned for another 1.8 mb of white wheat and has booked 3.8 mb compared to 4 mb at this time a year ago. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.