Portland Grain Review 08/13

August 13, 2024 Portland Price Trends 08-01-23 01-01-24 07-01-24 08-06-24 08-13-24 #1 SWW (bus) 7.05 6.65 6.10 5.75 5.65 White Club 7.30 7.15 6.10 5.75 5.65 DNS 14% 9.05 8.03 7.02 6.61 6.63 HRW 11.5% 8.24 6.97 6.39 6.11 6.08 #2 Corn (ton) 254.00 232.00 201.00 201.00 200.00 #2 Barley 210.00 180.00 160.00 150.00 150.00 Wheat...Nearly 20% of the Pacific Northwest wheat crop was harvested over the past week, with Oregon and Washington more than two-thirds cut and Idaho approaching the halfway mark. West coast wheat prices mirrored the lower move across the futures complex in early week trade, but hard red winter did see basis strengthen by a dime. Shipments...Weekly export inspections showed a rebound in movement of wheat off U.S. ports last week, coming in at nearly 24 mbus to put year- to-date shipments 27% ahead of a year ago at 155 mbus. Hard red spring and hard red winter both registered near the 7 mbus mark and soft white moved nearly 5 mbus. The Philippines, Japan and China were the primary takers off the west coast. Crop Report...USDA is projecting a big increase in U.S. white wheat production with a 288 mbus crop estimate coming in 23% better than last year's number on improved yields and larger acreage. Ending stocks are expected to increase for the third straight year to the highest levels since the 2019/20 marketing year. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.