Portland Grain Review 12/21

December 21, 2023 Portland Price Trends 12-01-22 01-01-23 11-01-23 12-14-23 12-21-23 #1 SWW (bu) 8.80 8.55 6.85 6.75 6.75 White Club 9.30 9.05 7.35 7.25 7.25 DNS 14% 10.10 10.19 7.94 7.96 7.98 HRW 11.5% 10.18 10.08 6.90 6.87 6.81 #2 Corn (ton) 296.00 302.00 238.00 237.00 234.00 #2 Barley 250.00 250.00 180.00 180.00 180.00 Wheat...A mostly sideways week was recorded for the west coast wheat markets, reflective of the movement across the futures complex as spot basis levels held mostly steady. The trade is gearing up for an extended closure of the Columbia-Snake River System, scheduled to be down from January into March for large-scale dam maintenance and repairs. Weekly Sales...USDA reported total wheat sales of nearly 12 mb last week, putting year-to-date commitments at 479 mb which stands 3% ahead of a year ago but 13% below the five-year average pace. White wheat was the top seller with 3.3 mb, putting sales at 110 mb which is 15% below a year ago and 23% below average. Soft red winter secured 3 mb and with 155 mb in commitments, sets 83% ahead of a year ago and double the five- year average pace. Hard red spring registered 3 mb to put sales at 173 mb, setting 8% ahead of a year ago and 4% below average. Hard red winter saw only 1.5 mb in sales for the week and with 94 mb in commitments sets more than 50% below the five-year average pace. Top Buyers...Mexico was the top buyer last week with 3.6 mb of mostly soft red winter wheat, Japan secured 2.6 mb. Indonesia bought 2.2 mb of white wheat, putting year-to-date purchases of that class at 12.2 mb and 12% ahead of a year ago. Algeria and South Korea rounded out the top 5 buyers, securing 1.9 mb and 771,000 bushels, respectively. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.