Portland Grain Review 02/06

February 6, 2024 Portland Price Trends 02-01-23 08-01-23 01-01-24 01-30-24 02-06-24 #1 SWW (bu) 8.40 7.05 6.65 6.45 6.40 White Club 8.55 7.30 7.15 6.90 6.90 DNS 14% 10.02 9.05 8.03 7.85 7.83 HRW 11.5% 10.03 8.24 6.97 6.91 6.79 #2 Corn (ton) 296.00 254.00 232.00 227.00 222.00 #2 Barley 250.00 210.00 180.00 180.00 180.00 Wheat...Chicago wheat futures hovered about a dime above recent lows in early week trade, awaiting further input from Thursday's crop report. West coast white wheat bids were also posted at the lower end of recent ranges and exporters put a modest carry into the bid structure. August 2024 new crop bids were posted at $6.30 today, only a dime discount to old crop and reflected a basis of only 15 over Chicago September futures. Shipments...Weekly export inspections showed wheat shipments hovered once again near the 10 mb mark last week. Year-to-date loadings are now at 414 mb, which stands 18% below a year ago. Hard red spring wheat was the top mover for all classes of wheat last week, coming in at 4.3 mb. Hard red winter registered 2.2 mb and white wheat was at 1.9 mb. Export activity on the west coast showed Indonesia taking 2 mb of wheat, with 5.4 mb of corn loaded for Japan and South Korea, and 1.2 mb of soybeans shipped for China. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.