Portland Grain Review 10/13

October 13, 2023 Portland Price Trends 10-01-22 01-01-23 09-01-23 10-06-23 10-13-23 #1 SWW (bu) 9.30 8.55 6.80 6.90 6.85 White Club 9.80 9.05 7.05 7.25 7.25 DNS 14% 10.06 10.19 8.10 7.90 7.98 HRW 11.5% 11.09 10.08 7.43 7.14 7.13 #2 Corn (ton) 303.00 302.00 246.00 247.50 250.00 #2 Barley 240.00 250.00 200.00 190.00 180.00 Wheat...West coast white wheat markets held to a 10 cent trading range this week, with basis levels to Chicago holding firm. Limited farm offers and recent demand continue to support the market, along with diminished crop prospects in Australia. Weekly Sales...USDA reported the best week of U.S. wheat export demand for the marketing, coming in at 24 mb largely on the shoulders of two big buyers. Year-to-date commitments now stand at 371 mb, which is 9% behind a year ago and 21% below the five-year average pace. Soft red winter was the big seller with 11.2 mb and with 86 mb in sales, sets 14% ahead of a year ago and 42% above average. Hard red winter saw its best week of sales for the year with 5.5 mb, putting commitments at 67 mb; 42% below a year ago and 59% below average. White wheat garnered 3.9 mb for the week and with 78 mb in sales, sets 16% behind a year ago and 23% below the average pace. Hard red spring booked 3.4 mb and with 129 mb in commitments, sets 9% ahead of last year but 4% behind average. Weekly Buyers...China was the big buyer of U.S. wheat week, purchasing 8 mb of soft red winter wheat. This puts their year-to-date purchases at 21 mb compared to 22.6 mb a year ago. Compared to a year ago, sales have not included any white wheat but have been primarily soft red winter wheat. Unknown also accounted for 7.5 mb of the U.S. sales total last week. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.