Portland Grain Review 08/22

August 22, 2024 Portland Price Trends 08-01-23 01-01-24 07-01-24 08-15-24 08-22-24 #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 6.62 6.42 HRW 11.5% 8.24 6.97 6.39 6.04 5.90 #2 Corn (ton) 254.00 232.00 201.00 200.00 198.00 #2 Barley 210.00 180.00 160.00 150.00 150.00 Wheat...Fresh contract lows across the wheat futures complex weighed yet again on west coast cash prices this week, with nearby bids slipping 10 to 20 cents from a week ago. Export sales did show that lower U.S. prices are attracting some export demand. Weekly Sales...USDA revealed an improved pace of export demand over the past week, coming in at 18.1 mbus and the best level in over a month. Year- to-date commitments now stand at 346 mbus, which is 39% ahead of a year ago and 2% above the five-year average pace. White wheat registered 6.7 mbus to be the top seller for the week and with 84 mbus in sales sets 83 mbus ahead of a year ago and 28% above average. Soft red winter booked 4.8 mbus to put commitments at 58 mbus which is 6% behind a year ago but 9% ahead of average. Hard red winter recorded 4.3 mbus in sales and with 83 mbus in commitments, sets 77% ahead of a year ago but 25% below average. Hard red spring booked 2.3 mbus, putting sales at 115 mbus which is 29% ahead of a year ago and 15% above the average pace. Top Buyers...The Philippines was the top U.S. wheat buyer last week with a 4.3 mbus purchase of soft white and hard red spring. Mexico bought 4 mbus of hard red and soft red winter, Vietnam booked 3.1 mbus of white wheat and Colombia and Panama rounded-out the top five with about 1.3 mbus each. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.