Portland Grain Review 04/02

April 2, 2024 Portland Price Trends 04-01-23 08-01-23 03-01-24 03-26-24 04-02-24 #1 SWW (bu) 7.65 7.05 5.80 5.60 5.65 White Club 7.65 7.30 6.05 5.60 5.65 DNS 14% 9.77 9.05 7.34 7.39 7.19 HRW 11.5% 10.08 8.24 6.34 6.48 6.34 #2 Corn (ton) 290.00 254.00 213.00 220.00 219.00 #2 Barley 240.00 210.00 180.00 155.00 155.00 Wheat...West coast white wheat bids held up relatively well against declines in Chicago futures on Tuesday, with nearby basis levels edging slightly higher. Recent demand and limited farm offerings have given nearby bids some support. Crop Progress...The first assessment of winter wheat conditions for 2024 showed the Pacific Northwest crop off to a much better start than a year ago. Timely precipitation has the good to excellent for Idaho up nearly 50% at 66%, Oregon up 27% at 71%, and Washington posting a 17% improvement from last year at 56%. Unseasonably warm weather in March also has spring wheat plantings started, with Idaho 8% complete and WA reporting 10% of the crop in the ground. Shipments...Weekly export inspections showed an improved pace of U.S. wheat shipments last week, coming in at 18.3 mb to put the current year total at 543 which stands 12% behind a year ago. Soft red winter was the top mover with 5.8 mb, followed by hard red winter with 5.6 and hard red spring at 4.2 mb. West coast exporters loaded out 9.2 mb of wheat, going mostly to Japan, Thailand and China. More than 22 mb of corn were also shipped, going mostly to Japan. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.