Portland Grain Review 08/15

August 15, 2024 Portland Price Trends 08-01-23 01-01-24 07-01-24 08-08-24 08-15-24 #1 SWW (bus) 7.05 6.65 6.10 5.75 5.75 White Club 7.30 7.15 6.10 5.75 5.75 DNS 14% 9.05 8.03 7.02 6.55 6.62 HRW 11.5% 8.24 6.97 6.39 6.03 6.04 #2 Corn (ton) 254.00 232.00 201.00 199.00 200.00 #2 Barley 210.00 180.00 160.00 160.00 150.00 Wheat...West coast wheat prices once again held to a relatively narrow trading range this week, as all three classes of wheat were mostly inside a dime of last week's numbers. Persistently warm and dry conditions moved winter wheat harvest progress toward the finish line. Trade remained light. Weekly Sales...USDA showed U.S. wheat export demand continued to hover near the 10 mbus mark, coming in at 12.5 mbus and slightly below the four- week average. Year-to-date commitments stand at 328 mbus, which is 39% ahead of a year ago and 1% above the five-year average pace. Red spring wheat returned to top seller status last week, booking 7 mbus to put the current year tally at 113 mbus, which is 39% ahead of a year ago and 19% above average. Hard red winter registered only 1.2 mbus and with 79 mbus in the books, sets 80% ahead of a year ago but 26% below average. White wheat sales slipped to just 500,000 bushels due to a cancellation out of the Philippines. Commitments of 77 mbus stand 64% ahead of a year ago and 21% above the average pace. Top Buyers...Mexico was the top buyer last week with 4.6 mbus of both soft red and hard red winter. Yemen bought 1.8 mbus of white wheat, Italy booked 1.5 mbus of durum and The Philippines netted a weekly total of less than a million bushels. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.