Portland Grain Review 05/28

May 28, 2024 Portland Price Trends 05-01-23 08-01-23 04-01-24 05-21-24 05-28-24 #1 SWW (bus) 7.15 7.05 5.65 6.75 6.80 White Club 7.15 7.30 5.65 6.75 6.80 DNS 14% 8.76 9.05 7.30 8.07 8.32 HRW 11.5% 8.78 8.24 6.50 7.48 7.71 #2 Corn (ton) 271.00 254.00 220.00 228.00 229.00 #2 Barley 220.00 210.00 155.00 155.00 155.00 Wheat...West coast wheat prices held recent gains coming out of the extended weekend, with the protein wheats moving in tandem with gains on the respective futures. White wheat bids head steady to last week, with basis remaining defensive against gains in Chicago. Crop Progress...Pacific Northwest winter wheat conditions posted some improvement over the past week, mainly on the shoulders of better ratings out of Washington. The three-state index was up 2 points, with conditions in Idaho and Oregon holding steady at respective good to excellent scores of 67% and 59%. Washington posted a 5 point gain in that category and is now at 48% but still well below an average rating for late May. Shipments...Late marketing year shipments saw a marked increase over the past week, coming in at 14.6 mbus to place the current year total at 672 mbus, which is 6.5% behind a year ago. Hard red spring was the top mover with 6.2 mbus, followed by hard red winter with 3.3 mbus and white wheat at 1.9 mbus. West coast exporters loaded a total of 8.8 mbus of wheat, going mostly to The Philippines and Japan. More than 15 mbus of corn were also shipped, with Japan being the primary destination. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.