Portland Grain Review 08/31

August 31, 2023 Portland Price Trends 08-01-22 08-01-22 07-01-23 08-24-23 08-31-23 #1 SWW (bu) 9.00 9.00 7.00 6.90 6.80 White Club 9.00 9.00 7.15 7.15 7.05 DNS 14% 9.77 10.08 8.79 8.30 8.21 HRW 11.5% 9.76 10.00 8.41 7.75 7.49 #2 Corn (ton) 276.00 279.00 261.00 248.00 246.00 #2 Barley 235.00 235.00 210.00 200.00 200.00 Wheat...The continued drift lower across wheat futures weighed on west coast wheat markets this week, most notably on the hard red winter prices. White wheat basis remained relatively firm as exporters work on coverage for recent sales against limited farm selling interest. Weekly Sales...USDA reported another week of export demand that was in line with recent numbers for wheat last week, with a large soft red winter sale to China bumping up the weekly total. Overall sales of 12.1 mb puts the year-to-date total at 276 mb, which is 24% behind a year ago and 28% below the five-year average pace. Soft red winter was top seller with 5.8 mb and with 68 mb in commitments, sets 1% behind a year ago but 29% ahead of average. Hard red spring garnered 3.3 mb to put sales at 99 mb, which is 1% behind a year ago and 11% below average. Soft white registered 1.8 mb and with 53 mb in commitments, sets more than 30% behind both last year and the five-year average pace. Top Buyers...China stepped in for a 4 mb purchase of soft red winter to claim top buyer honors last week, followed by the Philippines buying 2.8 mb of mostly hard red spring wheat. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.