Portland Grain Review 02/29

February 29, 2024 Portland Price Trends 02-01-23 08-01-23 01-01-24 02-23-24 02-29-24 #1 SWW (bu) 8.40 7.05 6.65 6.10 6.05 White Club 8.55 7.30 7.15 6.35 6.30 DNS 14% 10.02 9.05 8.03 7.37 7.49 HRW 11.5% 10.03 8.24 6.97 6.35 6.57 #2 Corn (ton) 296.00 254.00 232.00 219.00 215.00 #2 Barley 250.00 210.00 180.00 180.00 180.00 Wheat...West coast white wheat bids saw further drift this week as the protein wheat markets gained some footing against higher futures. Recent farm selling and very limited export demand continues to weigh on white wheat prices. Over the past two weeks, club wheat premiums have also been cut in half to 25 cents over white wheat. Weekly Sales...USDA reported a modest bump in export demand for U.S. wheat last week, coming in right in-line with the four-week average at 12 mb. Year-to-date commitments set at 667 mb, which is 6% ahead of a year ago but 13% below the five-year average pace. Top seller was hard red spring, securing 5.9 mb to put sales at 223 mb which is 17% ahead of a year ago and right at the average pace. Hard red winter saw 2.6 mb in new bookings and with 121 mb in commitments, now sets 30% behind a year ago and 55% below average. White wheat garnered 2.4 mb and with 137 mb in sales, stands 12% behind a year ago and 20% below average. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.