Portland Grain Review 11/14

November 14, 2023 Portland Price Trends 11-01-22 01-01-23 10-01-23 11-07-23 11-14-23 #1 SWW (bu) 9.10 8.55 6.60 6.90 6.85 White Club 9.60 9.05 6.95 7.40 7.35 DNS 14% 10.70 10.19 7.89 8.18 8.27 HRW 11.5% 11.10 10.08 7.17 6.88 6.98 #2 Corn (ton) 311.00 302.00 254.00 237.00 231.00 #2 Barley 250.00 250.00 180.00 180.00 180.00 Wheat...West coast white wheat bids held steady near the $6.85 mark in early-week trade, continuing on a sideways trek within a nickel range that has been in place over the past month. Firming basis levels on dark northern spring have nearby bids at the best level since late September. Crop Progress...Despite a week of heavy precipitation, USDA reported a decline in Pacific Northwest winter wheat conditions. Good to excellent ratings for Washington slipped 5 points to 51% and Oregon dropped 2% out of that category to 35%, while Idaho held unchanged at 73%. Shipments...Weekly export inspections once again showed a slowed pace of shipments for U.S. wheat last week, with west coast exporters focusing on soybean loadings. Total U.S. wheat shipments came in at 7.6 mb to put year-to-date loadings 26% behind a year ago. Soft white wheat was the top shipper with 2.8 mb, going primarily to the Philippines and South Korea. China also took 22 mb of soybeans off west coast ports. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.