Portland Grain Review 07/11

July 11, 2024 Portland Price Trends 07-01-23 08-01-23 06-01-24 07-05-24 07-11-24 #1 SWW (bus) 7.00 7.05 6.70 6.00 6.00 White Club 7.15 7.30 6.70 6.00 6.00 DNS 14% 8.79 9.05 8.04 7.03 6.97 HRW 11.5% 8.41 8.24 7.40 6.39 6.28 #2 Corn (ton) 261.00 254.00 220.00 212.00 198.00 #2 Barley 220.00 210.00 155.00 160.00 160.00 Wheat...West coast cash wheat prices found some support from a modest rebound across the futures complex on Thursday, holding white wheat bids steady and putting the red wheats within a dime of last week. After two solid weeks of demand, traders saw world buyers move to the sidelines and white wheat buyers are now booking into the fall months. Weekly Sales...USDA showed global buyers stepped aside from the recent buying spree, as U.S. wheat sales slipped to about a third of last week's strong showing. Weekly sales of 8.8 mbus places year-to-date commitments at 262 mbus, which is 54% ahead of a year ago and 10% above the five-year average pace. White wheat was the top seller with 3.6 mbus, followed by hard red spring with 2.6 mbus and hard red winter with 1.9 mbus. White Wheat Sales...With 62 mbus in commitments, white wheat sales are off the to best start since the 2018-19 marketing year. Relative to last year at this time commitments are up 27 mbus. Contributing to the increase is South Korea with purchases up 10.7 mbus; The Philippines up 7 mbus and Indonesian commitments up 4.5 mbus. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.