Portland Grain Review 02/13

February 13, 2024 Portland Price Trends 02-01-23 08-01-23 01-01-24 02-06-24 02-13-24 #1 SWW (bu) 8.40 7.05 6.65 6.40 6.35 White Club 8.55 7.30 7.15 6.90 6.85 DNS 14% 10.02 9.05 8.03 7.83 7.58 HRW 11.5% 10.03 8.24 6.97 6.79 6.53 #2 Corn (ton) 296.00 254.00 232.00 222.00 219.00 #2 Barley 250.00 210.00 180.00 180.00 180.00 Wheat...Continued drift across the futures complex continued to weigh on west coast cash wheat markets in early week trade. While basis levels held mostly steady, cash to futures spreads remain historically weak as markets lack sizeable export demand. Recent warm weather throughout the Pacific Northwest combined with rainfall has improved winter wheat crop conditions, with unseasonably warm weather in the near-term forecast. Shipments...Weekly export inspections showed an improved pace of U.S. wheat shipments last week, coming in at nearly 15 mb to put year-to-date loadings at 430 mb which is 18% behind a year ago. Hard red spring was the top shipper with 4.1 mb, followed by hard red winter with 3.5 mb and white wheat with 2.4 mb. South Korea was the primary destination off the west coast for wheat, with exporters also loading 8 mb of corn and 10.6 mb of soybeans. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.