Portland Grain Review 01/11

January 11, 2024 Portland Price Trends 01-01-23 08-01-23 12-01-23 01-04-24 01-11-24 #1 SWW (bu) 8.55 7.05 6.85 6.55 6.45 White Club 9.00 7.30 7.35 7.05 6.95 DNS 14% 10.14 9.05 7.94 7.96 7.85 HRW 11.5% 10.02 8.24 6.90 6.86 6.75 #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...It was a sideways trek for white wheat prices this week, with spot bids marking the $6.45 level over the past week. Hard red winter and red spring wheat prices sagged against the declines across the respective futures markets. Export demand remains dismally slow, matched by limited farmer selling at current price levels. Weekly Sales...USDA reported yet another week of export demand for U.S. wheat coming in at less that 5 mb. Year-to-date commitments now stand at 566 mb, which is 2% ahead of a year ago but 14% behind the 5-year average pace. Notable amongst the limited buying interest however, was a 2.6 mb sale of hard red spring wheat to Egypt. Sales for that class of wheat are now at 183 mb, which sets 10% ahead of a year ago and 5% below the average pace. Soft white wheat reported a net 1 mb in sales, as sales to unknown were officially designated to China. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.