Portland Grain Review 12/14

December 14, 2023 Portland Price Trends 12-01-22 01-01-23 11-01-23 12-07-23 12-14-23 #1 SWW (bu) 8.80 8.55 6.85 6.90 6.75 White Club 9.30 9.05 7.35 7.40 7.25 DNS 14% 10.10 10.19 7.94 8.13 7.96 HRW 11.5% 10.18 10.08 6.90 7.17 6.87 #2 Corn (ton) 296.00 302.00 238.00 227.00 237.00 #2 Barley 250.00 250.00 180.00 180.00 180.00 Wheat...West coast white wheat markets generally followed the roller coaster performance across the futures complex this week and ultimately settled lower on Thursday. White wheat bids held to a notably weaker basis to Chicago while the protein wheat basis levels held steady. Weekly Sales...The big reveal was made by USDA, showing the Chinese purchase of more than 40 mb of U.S. soft red winter wheat over the last week. The business helped moved total U.S. wheat sales to 534 mb, which sets 3% ahead of last year and 13% below the 5-year average pace. Soft red winter commitments of 152 mb now stand 81% ahead of a year ago and 104% above average. Hard red spring also saw a good week of demand with 6 mb in new sales, putting the total at 170 mb which is 8% ahead of last year and 3% below average. White wheat garnered nearly 4 mb in sales to place year-to-date commitments at 107 mb, setting 15% behind a year ago and 23% below the average pace. Top Buyers...China was obviously the big buyer last week with 41 mb, the Philippines booked 4.5 mb, Mexico bought 3.2 mb and Japan secured a total of 2.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.