Portland Grain Review 10/01

October 1, 2024 Portland Price Trends 10-01-23 01-01-24 09-01-24 09-24-24 10-01-24 #1 SWW (bus) 6.60 6.65 5.65 5.90 6.00 White Club 6.95 7.15 5.80 6.05 6.15 DNS 14% 7.89 8.03 6.60 6.77 7.05 HRW 11.5% 7.17 6.97 6.10 6.26 6.53 #2 Corn (ton) 254.00 232.00 197.00 207.00 215.00 #2 Barley 280.00 180.00 150.00 150.00 150.00 Wheat...The bounce across the wheat futures complex on Tuesday helped west coast white wheat bids hit the $6 mark for only the second time since early July, with dark northern spring following the same pattern to attain the $7 level. In the process though, white wheat basis remained defensive and weakened to near even-money with Chicago, as export demand continues to be limited. Shipments...Weekly export inspections showed another relatively solid week of export movement for U.S. wheat, coming in at 19.7 mbus to place year-to-date shipments 35% ahead of a year ago at 302 mbus. Top mover was hard red spring with 8.3 mbus, followed by soft white wheat with 5.2 mbus and hard red winter at 2 mbus. West coast exporters registered a total of 16 mbus for wheat shipments last week, going mostly to The Philippines and South Korea. Production Update...Pacific Northwest all wheat production was up 9.3% from 2023, as larger acreage and higher yields contributed to the increase. Winter wheat yields in Oregon and Washington were up more than 25% versus the drought reduced numbers of 2023, while Idaho spring wheat yield saw a 7 bushel per acre improvement to 89 bushels. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.