Portland Grain Review 06/25

June 25, 2024 Portland Price Trends 06-01-23 08-01-23 05-01-24 06-18-24 06-25-24 #1 SWW (bus) 7.15 7.05 6.00 6.25 6.10 White Club 7.15 7.30 6.00 6.25 6.10 DNS 14% 8.69 9.05 7.87 7.04 6.76 HRW 11.5% 8.67 8.24 6.95 6.43 6.22 #2 Corn (ton) 269.00 254.00 223.00 220.00 217.00 #2 Barley 220.00 210.00 155.00 160.00 160.00 Wheat...The continued retreat across the futures complex weighed yet again on west coast wheat prices in early-week trade. Even with further basis strengthening, white wheat prices moved back toward the lower end of recent trading ranges, with declines more apparent in the red wheats. Crop Progress...Recent cool weather and precipation provided a nice boost to Pacific Northwest winter wheat conditions, as the 3-state index jumped 9 points last week. Idaho saw good to excellent ratings climb 5 points to 80%, Oregon was up 2 points to 59% and Washington gained back 2 points to 51%, with poor to very poor declining 6 points. Shipments...Weekly export inspections showed a decent week of wheat movement off U.S. ports, coming in at 12.5 mbus. This puts year-to-date shipments at 38.5 mbus compared to 27.8 mbus a year ago. Hard red winter was the top mover with 6.9 mbus, followed by soft white with 2.8 mbus and 1.9 mbus for hard red spring. West coast loading activity saw 5.6 mbus of wheat shipped, going mostly to Japan and Chile, and nearly 15 mbus of corn loaded mostly for Japan. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.