Portland Grain Review 03/05

March 5, 2024 Portland Price Trends 03-01-23 08-01-23 02-01-24 02-27-24 03-05-24 #1 SWW (bu) 8.10 7.05 6.40 6.10 5.70 White Club 8.10 7.30 6.90 6.35 5.95 DNS 14% 9.48 9.05 7.81 7.50 7.40 HRW 11.5% 9.56 8.24 6.81 6.58 6.40 #2 Corn (ton) 278.00 254.00 226.00 214.00 215.00 #2 Barley 250.00 210.00 180.00 180.00 180.00 Wheat...West coast white wheat markets saw prices take a big hit at the end of last week, as farmers tripped protective sell orders at the $6.00 mark. With limited export demand, exporters went on the defensive and pulled bids and basis downward. As a result, nearby bids started this week at the lowest levels since July 2020. Fairly open weather and recent precipitation has also improved PNW winter wheat conditions. Shipments...Weekly export inspections showed just under 13 mb of U.S. wheat shipped off all ports last week, putting year-to-date loadings at 476 mb and holding at 17% behind a year ago. Hard red winter moved 3.2 mb, followed by hard red spring with 2.8 mb and soft white with 2.3 mb. South Korea was the top wheat taker off the west coast with 1.6 mb, but exporters were focused on moving 11.7 mb of corn primarily for Japan and 7.4 mb of soybeans for China. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.