Portland Grain Review 10/31

October 31, 2023 Portland Price Trends 10-01-22 01-01-23 09-01-23 10-24-23 10-31-23 #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 8.11 7.95 HRW 11.5% 11.09 10.08 7.43 7.08 6.79 #2 Corn (ton) 303.00 302.00 246.00 248.00 240.00 #2 Barley 240.00 250.00 200.00 180.00 180.00 Wheat...West coast white wheat bids remained steadfast, holding at the $6.85 level in early week trade. With the decline in Chicago futures, spot basis has strengthened to nearly 130 over, the strongest level in over a year and a half. Crop Progress...Winter wheat planting is virtually complete across the Pacific Northwest, and USDA released the first official assessment of the crop on Monday. The three-state weighted index shows dry conditions have impacted the crop, coming in 29 points below a year ago. While Idaho good to excellent of 65% is 12% above a year ago, Washington is down 7% at 56% and Oregon is half of a year ago at 34%. Emergence is at or above five- year averages for all three states. Shipments...Weekly export inspections showed yet another week of slow wheat movement off U.S. ports last week, coming in at 6.9 mb to put the year-to-date total at 261 and 26% behind a year ago. White wheat loadings accounted for nearly half the total, with the Philippines taking 2.1 mb. West coast exporters have made the traditional shift toward the loading of soybeans, shipping 32 mb for China last week. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.