Portland Grain Review 06/27

June 27, 2024 Portland Price Trends 06-01-23 08-01-23 05-01-24 06-20-24 06-27-24 #1 SWW (bus) 7.15 7.05 6.00 6.20 6.20 White Club 7.15 7.30 6.00 6.20 6.20 DNS 14% 8.69 9.05 7.87 6.89 6.86 HRW 11.5% 8.67 8.24 6.95 6.32 6.34 #2 Corn (ton) 269.00 254.00 223.00 218.00 210.00 #2 Barley 220.00 210.00 155.00 160.00 160.00 Wheat...West coast wheat prices found some late-week footing with a bounce across the futures complex. Confirmation of another week of good export demand showed U.S. wheat prices are in a competitive zone, with white wheat continuing to attract the attention of The Philippines and South Korea. Those two countries have purchased a combined 28 mbus thus far this marketing year, more than double the total of a year ago. Weekly Sales...USDA revealed yet another week of good export demand for U.S. wheat, coming in at 24.5 mbus to put commitments at 224 mbus, which is 50% ahead of a year ago and 4% above the 5-year average pace. Hard red winter was the top seller with 9.3 mbus to put commitments at 55 mbus, which is 84% ahead of last year but 23% below average. Hard red spring booked 8.5 mbus, placing sales at 77 mbus which stands 65% above a year ago and 26% above average. White wheat secured another 4.6 mbus and with 52 mbus in commitments, sets more than double a year ago and 28% above average. Top Buyers...Unknown was the top U.S wheat buyer last week with 5.4 mbus, followed by The Philippines with 3.7 mbus, Mexico with 3.2 mbus, Japan with 2.6 mbus and Thailand with 2 mbus. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.