Portland Grain Review 10/24

October 24, 2023 Portland Price Trends 10-01-22 01-01-23 09-01-23 10-17-23 10-24-23 #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 8.05 8.11 HRW 11.5% 11.09 10.08 7.43 7.09 7.08 #2 Corn (ton) 303.00 302.00 246.00 250.00 248.00 #2 Barley 240.00 250.00 200.00 180.00 180.00 Wheat...West coast white wheat prices remained steadfast as the week got underway, holding the $6.85 mark through all of last week. Nearby basis dipped about 15 cents on recent strength in Chicago futures but climbed back to 104 over against weaker Chicago futures today. Basis on dark northern spring wheat has also seen additional strength, moving to 85 over Minneapolis futures, which is up 35 cents over the past month. Crop Progress...Winter wheat plantings are nearly complete for Idaho and Washington, finishing up slightly ahead of the average pace. Oregon is reported at 70% planted versus a 77% average. Recent moisture across the Pacific Northwest has emergence for all three states at or above the five-year average. Shipments...Weekly export inspections showed west coast wheat loadings came to a virtual standstill last week, with all U.S. ports reporting only 6.1 mb shipped for the week. That total was less than half the prior week and puts year-to-date shipments at 254 mb, which is 27% behind a year ago. Hard red spring and hard red winter each registered about 2 mb in loadings, while soft white was less than half a million bushels. Taiwan was the lone taker of wheat off the west coast. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.