Portland Grain Review 11/21

November 21, 2023 Portland Price Trends 11-01-22 01-01-23 10-01-23 11-14-23 11-21-23 #1 SWW (bu) 9.10 8.55 6.60 6.85 6.80 White Club 9.60 9.05 6.95 7.35 7.30 DNS 14% 10.70 10.19 7.89 8.27 8.03 HRW 11.5% 11.10 10.08 7.17 6.98 6.72 #2 Corn (ton) 311.00 302.00 254.00 231.00 230.00 #2 Barley 250.00 250.00 180.00 180.00 180.00 Wheat...The holiday-shortened week showed west coast wheat markets off to a weaker start, following initial declines across the futures complex. White wheat bids showed exporters switching to Chicago March futures but basis generally remains firm, with modest carries posted in all classes of wheat. Shipments...Weekly export inspections showed a modest uptick in export loadings of U.S. wheat last week, coming in at 13.1 mb to put the current year total at 287 mb and 24% behind a year ago. Hard red spring was the top shipper with 6.7 mb, followed by white wheat with nearly 5 mb. West coast shipments showed Taiwan taking on 3.9 mb, the Phillipines took 3.5 mb and Yemen took 2.8 mb. More than 17 mb of soybeans were also shipped off PNW ports for China last week. Crop Progress...Heavy rainfall through early November finally made an impact in crop ratings, as USDA reported the PNW winter wheat crop in the best condition of the fall. The three-state weighted index climbed by 9 points, with good to excellent for Idaho up 7% to 80%, Oregon up 4 points to 39% and Washington gaining a point to 52%. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.