Portland Grain Review 01/05

January 5, 2024 Portland Price Trends 01-01-23 08-01-23 12-01-23 12-29-23 01-05-24 #1 SWW (bu) 8.55 7.05 6.85 6.65 6.45 White Club 9.00 7.30 7.35 7.15 6.95 DNS 14% 10.14 9.05 7.94 8.01 7.99 HRW 11.5% 10.02 8.24 6.90 6.91 6.89 #2 Corn (ton) 302.00 254.00 238.00 229.00 224.00 #2 Barley 250.00 210.00 180.00 180.00 180.00 Wheat...A late-week uptick across the wheat futures complex helped stablize west coast cash wheat prices on Friday, after white wheat bids slipped to a three-year low earlier in the week. Exporters encountered some new calendar-year farm selling, which worked against confirmation of yet another week of virtually no new export demand. White wheat basis also weakened to the lowest point since last July, while nearby basis on the protein wheats strengthened 5 cents from last week. Shipments...USDA weekly export sales reinforced the current slow pace of export demand for U.S. wheat, as the weekly total came in below 5 mb for all classes of wheat. Year-to-date commitments stand at 561 mb, up 2% from a year ago but 14% below the five-year average pace. Hard red spring booked 2 mb and with 180 mb in sales, sets 8% ahead of this time last year but 45 below average. Hard red winter registered 1.8 mb and white wheat saw only 100,000 bushels in new sales. A 2.4 mb white wheat sale was switched from unknown to China. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.