Portland Grain Review 07/23

July 23, 2024 Portland Price Trends 07-01-23 08-01-23 06-01-24 07-16-24 07-23-24 #1 SWW (bus) 7.00 7.05 6.70 5.70 5.80 White Club 7.15 7.30 6.70 5.70 5.80 DNS 14% 8.79 9.05 8.04 6.46 6.96 HRW 11.5% 8.41 8.24 7.40 5.86 6.15 #2 Corn (ton) 261.00 254.00 220.00 197.00 201.00 #2 Barley 220.00 210.00 155.00 160.00 160.00 Wheat...Some relative stability across the futures complex helped to give west coast wheat prices some footing in early-week trade. Advances were most pronounced in the hard red spring wheat market. The impending harvest is the primary focus for producers and trade remains very light. Crop Progress...Extreme heat across the Pacific Northwest is taking a toll on winter wheat crops, as USDA showed the three-state index was down 4 points over the past week. Good to excellent ratings for Idaho slipped 5 points to 72%, Oregon was unchanged at 50%, while Washington reported a 4 point drop to 48%. Harvest is 35% complete in Oregon and slightly ahead of average, while Idaho and Washington are slightly off the average pace at respective completion rates of 7% and 10%. Shipments...Weekly export inspections showed a marked slow down in the pace of U.S. wheat shipments last week, coming in at less than half the prior week at 8.7 mbus. Year-to-date loadings stand at 95 mbus and 20% ahead of a year ago. Hard red winter was the top shipper with 5.6 mbus, with soft white registering less than a million bushels. Export activity on the west coast showed just 2.5 mbus of wheat shipped, going mostly to Japan, and 18.4 mbus of corn moved mostly to South Korea. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.