Portland Grain Review 09/03

September 3, 2024 Portland Price Trends 09-01-23 01-01-24 08-01-24 08-27-24 09-03-24 #1 SWW (bus) 6.80 6.65 5.65 5.65 5.75 White Club 7.05 7.15 5.65 5.65 5.90 DNS 14% 8.10 8.03 6.58 6.39 6.66 HRW 11.5% 7.43 6.97 6.04 5.94 6.21 #2 Corn (ton) 246.00 232.00 199.00 192.00 197.00 #2 Barley 200.00 180.00 150.00 150.00 150.00 Wheat...The continued rebound in the futures complex on Tuesday helped firm up cash prices, primarily for the protein wheats, as the nearby basis for white wheat remained defensive against gains in Chicago. White wheat basis has weakened nearly 50 cents from last week, while hard red winter basis has pared back 15 cents. Recent white wheat sales included a fair amount of western white wheat, and exporters have put a premium back on club wheat to attract some selling interest. Shipments...Weekly export inspections showed yet another solid week of export movement for U.S. wheat, coming in at 21.2 mbus to place shipments at 211 mbus, which is 32% ahead of a year ago. Hard red spring was the top shipper with 6.5 mbus, followed by hard red winter with 5.8 mbus and white wheat with 4.7 mbus. West coast activity showed 12.6 mbus of wheat loaded out to a long list of takers with The Philippines, Malaysia and Guatemala being the primary destinations. Crop Progress...Despite extreme heat and dry conditions, winter wheat plantings continue to progress across the Pacific Northwest, while harvest of the spring wheat crop approaches the finish line. Washington reports 22% of the winter wheat planted and Idaho at 4%, both slightly ahead of average. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.