Portland Grain Review 03/12

March 12, 2024 Portland Price Trends 03-01-23 08-01-23 02-01-24 03-05-24 03-12-24 #1 SWW (bu) 8.10 7.05 6.40 5.70 5.50 White Club 8.10 7.30 6.90 5.95 5.75 DNS 14% 9.48 9.05 7.81 7.40 7.61 HRW 11.5% 9.56 8.24 6.81 6.40 6.68 #2 Corn (ton) 278.00 254.00 226.00 215.00 216.00 #2 Barley 250.00 210.00 180.00 170.00 170.00 Wheat...West coast white wheat prices stuck at the $5.50 mark in early week trade, as exporter bids held steady relative to recent gains across the futures complex. As a result, basis to Chicago went negative for the time since May 2022, with new crop August basis slipping to negative 25 cents to Chicago September. In contrast, old crop protein wheat bids saw a rebound to the best price levels in over a month. 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 16% behind a year ago at 491 mb. Hard red winter was the top mover with 4.4 mb, followed by hard red spring at 4.1 mb and white wheat loading 3.3 mb. West coast exporter activity showed 4.8 mb of wheat was shipped to the Philippines and 2.3 mb for China. Japan and Taiwan were the primary takers on 19 mb of corn and 6.9 mb of soybeans went to China and Bangladesh. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.