Portland Grain Review 10/25

October 25, 2024 Portland Price Trends 10-01-23 01-01-24 09-01-24 10-18-24 10-25-24 #1 SWW (bus) 6.60 6.65 5.65 5.95 6.00 White Club 6.95 7.15 5.80 6.10 6.15 DNS 14% 7.89 8.03 6.60 6.86 6.79 HRW 11.5% 7.17 6.97 6.10 6.36 6.28 #2 Corn (ton) 254.00 232.00 197.00 206.00 210.00 #2 Barley 280.00 180.00 150.00 150.00 211.00 Wheat...A roller coaster performance in Chicago futures this week but west coast white wheat values held mostly steady. With the retreat in futures on Friday, white wheat held relatively firm, strengthening spot basis levels. Weekly closes showed the nearby white wheat basis closing at the highest levels in two months. Weekly Sales...USDA reported another relatively solid week of export demand for U.S. wheat, coming in at nearly 20 mbus to put commitments at 481 mbus, which is 22% ahead of a year ago and 2% above the average pace for the past 5 years. Soft red winter was the top seller with 7.5 mbus, and with 80 mbus in year-to-date sales sets 16% behind a year ago but 14% above average. Hard red spring booked 6.5 mbus, putting commitments at 159 mbus which is 19% ahead of a year ago and 17% above average. White wheat sales of 3.2 mbus puts total commitments at 125 mbus, which stands 45% ahead of a year ago and 29% above average. Hard red winter garnered 2.2 mbus and with 108 mbus in sales, sets 59% ahead of a year ago but 30% below the five-year average pace. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.