Portland Grain Review 09/21

September 21, 2023 Portland Price Trends 09-01-22 01-01-23 08-01-23 09-14-23 09-21-23 #1 SWW (bu) 8.90 8.55 7.05 6.85 6.80 White Club 9.40 9.05 7.30 7.10 7.05 DNS 14% 9.66 10.19 9.05 8.32 8.22 HRW 11.5% 9.88 10.08 8.24 7.54 7.39 #2 Corn (ton) 296.00 302.00 254.00 253.00 254.00 #2 Barley 235.00 250.00 210.00 200.00 190.00 Wheat...Another good week of demand for U.S. white wheat provided good footing for west coast cash bids, as prices held within a 10 cent range over the past week. Nearby basis is also hovering near the top end of the range posted over the past year. Diminished prospects for the Australian crop remains supportive. Weekly Sales...USDA reported a setback in U.S. wheat export demand for the past week, coming in at the lowest level since late July. Total sales of 11.3 mb came in 20% below the four-week average, placing commitments at 317 mb which is 17% behind a year ago and 26% below the five-year average pace. White wheat was the top seller for the week, seeing the third week of sales above 4 mb and with 67 mb in commitments, sets 23% behind a year ago and 26% below average. Hard red spring secured 3.5 mb to put sales at 113 mb, which is 1% ahead of a year ago but 8% below average. Sales for soft red winter came in at 1.8 mb to put commitments at 72 mb, standing 6% ahead of a year ago and 29% above average. Top Buyers...The Philippines was top U.S. wheat buyer last week with 2.7 mb, followed by South Korea with 2 mb, Unknown at 1.8 mb and Indonesia with 1 mb of white wheat. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.