Portland Grain Review 03/21

March 21, 2024 Portland Price Trends 03-01-23 08-01-23 02-01-24 03-14-24 03-21-24 #1 SWW (bu) 8.10 7.05 6.40 5.50 5.55 White Club 8.10 7.30 6.90 5.75 5.55 DNS 14% 9.48 9.05 7.81 7.45 7.46 HRW 11.5% 9.56 8.24 6.81 6.45 6.48 #2 Corn (ton) 278.00 254.00 226.00 219.00 223.00 #2 Barley 250.00 210.00 180.00 160.00 155.00 Wheat...West coast white wheat markets held mostly steady through the week, drawing support from a recent sale of feed wheat and limited farm selling interest. As a result, nearby basis firmed to 10 over the Chicago May futures after being in negative territory last week. Hard red winter and spring wheat basis numbers have held steady at the same levels for nearly a month. Weekly Sales...Acknowledgement of further Chinese cancellations for U.S. soft red winter wheat purchases put net wheat sales at a negative 4 mb last week, while new crop purchases came in at 10.4 mb. Old crop export commitments now stand at 676 mb, which is 3% ahead of a year ago but 16% behind the five-year average pace. Hard red winter wheat was top seller last week with 3.3 mb and with 128 in sales stands 28% below a year ago and 55% below average. Hard red spring saw net sales of less than a million bushels and with 231 mb in commitments, sets 16% ahead of a year ago and 1% behind the average pace. New crop sales of 10.4 mb moved commitments for the comming year to 29.5 mb, which is 5 mb ahead of a year ago. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.