Portland Grain Review 07/16

July 16, 2024 Portland Price Trends 07-01-23 08-01-23 06-01-24 07-09-24 07-16-24 #1 SWW (bus) 7.00 7.05 6.70 6.00 5.70 White Club 7.15 7.30 6.70 6.00 5.70 DNS 14% 8.79 9.05 8.04 6.90 6.46 HRW 11.5% 8.41 8.24 7.40 6.23 5.86 #2 Corn (ton) 261.00 254.00 220.00 198.00 197.00 #2 Barley 220.00 210.00 155.00 160.00 160.00 Wheat...West coast white wheat markets drifted toward fresh lows in early-week trade, as all cash prices came under pressure from continued weakness across the futures complex. Record-setting hot and dry weather is advancing harvest and nipping into conditions for regions with late maturing wheat. Crop Progress...Extreme heat bit into Pacific Northwest winter wheat conditions last week, with the three-state index dropping 5 points. The big shift occurred in Oregon, where good to excellent ratings slipped 14 points to 50% and poor to very poor jumped 5% to 15%. Ratings for Idaho and Washington held steady at respective good to excellent percentages of 77% and 52%. Winter wheat harvest is progressing across the 3 states right in-line with the average pace. Shipments...Weekly export inspections showed a marked improvement in U.S. wheat shipments over the past week, coming in at nearly 20 mbus to put year-to-date loadings 26% ahead of a year ago at 83 mbus. Hard red spring was the top shipper with 7.9 mbus, followed by hard red winter at 2.9 mbus. White wheat registered only 1 mbus. West coast export activity showed 8.8 mbus shipped, mostly to Taiwan and China, and Taiwan was also the primary taker on 7.7 mbus of corn. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.