Portland Grain Review 01/30

January 30, 2024 Portland Price Trends 01-01-23 08-01-23 12-01-23 01-23-24 01-30-24 #1 SWW (bu) 8.55 7.05 6.85 6.45 6.40 White Club 9.00 7.30 7.35 6.95 6.90 DNS 14% 10.14 9.05 7.94 7.84 7.82 HRW 11.5% 10.02 8.24 6.90 6.77 6.89 #2 Corn (ton) 302.00 254.00 238.00 225.00 223.00 #2 Barley 250.00 210.00 180.00 180.00 180.00 Wheat...West coast white wheat bids sagged a bit in early week trade, coming under pressure from the weak start in Chicago futures. Last week's export sales report showed recent demand went a ways toward clearing the ownership deck for exporters, but flat price and basis performance this week show further demand is needed to absorb a larger than normal amount of unpriced grain being held by producers this year. Shipments...Weekly export inspections showed 9.7 mb of wheat moved off all U.S. ports last week, with west coast port activity focused on loading corn and soybeans. Year-to-date U.S. wheat shipments of 404 mb stand 17% behind a year ago. Hard red spring was the top shipper last week with 4.7 mb, followed by hard red winter with 1.7 mb and soft white at 1.3 mb. The Philippines was the primary destination for wheat off the west coast ports, taking on 2.1 mb, and exporters also loaded 11 mb of corn going mostly to Japan and China. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.