Portland Grain Review 10/17

October 17, 2023 Portland Price Trends 10-01-22 01-01-23 09-01-23 10-10-23 10-17-23 #1 SWW (bu) 9.30 8.55 6.80 6.80 6.85 White Club 9.80 9.05 7.05 7.20 7.25 DNS 14% 10.06 10.19 8.10 7.98 8.05 HRW 11.5% 11.09 10.08 7.43 7.11 7.09 #2 Corn (ton) 303.00 302.00 246.00 247.00 250.00 #2 Barley 240.00 250.00 200.00 180.00 180.00 Wheat...West coast white wheat basis remained relatively firm in as the week got underway, holding cash bids in a tight range near the $6.90 level. Limited farm offers and recent export demand have been supportive. Protein wheat basis levels have also firmed up, with the hard red winter basis up 25 cents since late September and dark northern spring basis up 15 cents over that same time period. Crop Progress...USDA reports that PNW winter wheat plantings are now in-line with the average pace, with another 10% of the crop put in the ground last week. Washington stands 87% complete, Idaho is showing 84% in and Oregon reports 54% planted. Emergence is also ahead of average for Washington. Shipments...Weekly export inspections showed a slight week-to-week improvement in wheat movements off U.S. ports, coming in at 13 mb to put year-to-date loadings at 248 mb and 28% behind a year ago. The top mover was hard red spring with 3.8 mb, followed by 3.5 mb for hard red winter and 2.7 mb for white wheat. Japan was the top destination for shipments off the west coast, taking on 5.6 mb of wheat. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.