Portland Grain Review 10/19
19 Oct 2023
October 19, 2023 Portland Price Trends 10-01-22 01-01-23 09-01-23 10-12-23 10-19-23 #1 SWW (bu) 9.30 8.55 6.80 6.85 6.85 White Club 9.80 9.05 7.05 7.25 7.25 DNS 14% 10.06 10.19 8.10 7.98 8.05 HRW 11.5% 11.09 10.08 7.43 7.15 7.06 #2 Corn (ton) 303.00 302.00 246.00 250.00 247.00 #2 Barley 240.00 250.00 200.00 180.00 180.00 Wheat...West coast white wheat markets held right at $6.85 through the week, with bids bolstered by recent export demand and very limited offers at the farm level. Nearby basis to Chicago also remains firm at more than a dollar over Chicago futures. Weekly Sales...USDA reported yet another strong week of export demand for U.S. wheat, coming in at 23.2 mb to put year-to-date commitments at 394 mb, which is 5% behind a year ago and 18% below the five-year average pace. Chinese purchases put soft red winter at the top of the sales list again, recording 9.1 mb to put sales at 95 mb, which stands 25% ahead of a year ago and 53% above average. White wheat registered the best week of the marketing year with 7.8 mb in sales and now sets 8% behind a year ago and 16% below average. Hard red spring recorded 3.3 mb in new business and with 134 mb in commitments, sets 10% ahead of a year ago but 3% below the average pace. Weekly Buyers...China topped the buying list again this week with 6.7 mb in soft red winter purchases, followed by 4.6 mb for the Philippines and 3.1 mb to unknown of mostly soft white wheat. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.