Portland Grain Review 09/26

September 26, 2024 Portland Price Trends 09-01-23 01-01-24 08-01-24 09-19-24 09-26-24 #1 SWW (bus) 6.80 6.65 5.65 5.85 5.95 White Club 7.05 7.15 5.65 6.00 6.10 DNS 14% 8.10 8.03 6.58 6.73 6.87 HRW 11.5% 7.43 6.97 6.04 6.19 6.38 #2 Corn (ton) 246.00 232.00 199.00 205.00 210.00 #2 Barley 200.00 180.00 150.00 150.00 150.00 Wheat...West coast wheat markets all posted week to week gains, drawing support from stronger futures markets. Limited farm offers and a recent CCC donation to Yemen also remain supportive to white wheat bids. Export bid structures show all three cash markets are flat into December. Weekly Sales...USDA reported weakening export demand for U.S. wheat as the recent rebound in prices has put global buyers on the sidelines. Total sales of 5.8 mbus were a marketing year low, putting commitments to date at 410 mbus, which is 30% ahead of a year ago but on par with the five-year average for this time of year. White wheat booked 1.6 mbus and with 103 mbus in sales, sets 55% ahead of a year ago and 25% above average. Hard red winter saw 1.3 mbus to put commitments 74% ahead of a year ago and 28% above average at 97 mbus. Hard red spring sales slipped to the lowest level for the marketing year with less than 1 mbus, putting sales at 136 mbus which is 21% ahead of a year ago and 13% above average. Top Buyers...The list of U.S. wheat buyers showed Chile claiming the top spot with 3 mbus, followed by The Philippines at 1.8 mbus and Japan with 1.6 mbus. Guatemala and Nigeria rounded out the top with with a combined total of 2.1 mbus. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.