Portland Grain Review 07/09

July 9, 2024 Portland Price Trends 07-01-23 08-01-23 06-01-24 07-02-24 07-09-24 #1 SWW (bus) 7.00 7.05 6.70 6.05 6.00 White Club 7.15 7.30 6.70 6.05 6.00 DNS 14% 8.79 9.05 8.04 7.00 6.90 HRW 11.5% 8.41 8.24 7.40 6.30 6.23 #2 Corn (ton) 261.00 254.00 220.00 208.00 198.00 #2 Barley 220.00 210.00 155.00 160.00 160.00 Wheat...West coast white wheat markets respected the $6 level in early week trade, with nearby basis weakening a bit against the modest bounce in Chicago on Tuesday. Exporters have covered most of the August sales and recent bookings stretch into the fall delivery months. Crop Progress...Despite declines in winter wheat conditions for both Idaho and Oregon, the three-state weighted index showed a modest gain as Washington ratings improved. Good to excellent for Idaho slipped 4% to 77%, Oregon was down 3% to 64% while Washington improved 4 points to 52%. Winter wheat harvest is also underway, with record-setting heat sweeping through the Pacific Northwest. Shipments...Weekly export inspections showed shipments of U.S. wheat were right in line with the prior week at 12.5 mbus. Marketing year-to- date loadings of 63.5 mbus stand 14% better than a year ago. Hard red spring was the top shipper with 3.8 mbus, with both hard red winter and white wheat registering 2.4 mbus. West coast activity showed 9.5 mbus of wheat moved and 12 mbus of corn, with Japan being the primary taker. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.