Portland Grain Review 10/22

October 22, 2024 Portland Price Trends 10-01-23 01-01-24 09-01-24 10-15-24 10-22-24 #1 SWW (bus) 6.60 6.65 5.65 6.05 6.00 White Club 6.95 7.15 5.80 6.20 6.15 DNS 14% 7.89 8.03 6.60 6.86 6.87 HRW 11.5% 7.17 6.97 6.10 6.38 6.42 #2 Corn (ton) 254.00 232.00 197.00 205.00 205.00 #2 Barley 280.00 180.00 150.00 150.00 150.00 Wheat...Steady was the word for early-week west coast market activity, as all three classes of wheat held in-line with last week's numbers. Soft white wheat basis has firmed and is hovering at the best levels since late August. Bid structures for all markets are mostly flat into December. Shipments...Weekly export inspections showed a notable decline in U.S. wheat shipments last weeek, as corn and soybean movement took center stage. Total wheat shipments came in at just under 10 mbus to put the year-to-date tally at 340 mbus and 34% ahead of a year ago. Hard red winter was the top shipper with 3.8 mbus, followed by hard red spring with 2.6 mbus and white wheat with 1.8 mbus. West coast exporters moved 6 mbus of wheat, mostly to Japan, and nearly 35 mbus of soybeans for China. Crop Progress...Winter wheat planting progress for the Pacific Northwest shows Washington virtually complete, Idaho at 90% complete and Oregon ahead of average at 83% planted. Emergence for Idaho is right on track with the five-year average, while Oregon and Washington report emergence well-above the average. Widespread early-week rainfall should improve conditions. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.