Portland Grain Review 11/07

November 7, 2024 Portland Price Trends 11-01-23 01-01-24 10-01-24 10-31-24 11-07-24 #1 SWW (bus) 6.85 6.65 6.00 6.00 6.05 White Club 7.35 7.15 6.15 6.15 6.20 DNS 14% 7.94 8.03 7.05 6.75 6.75 HRW 11.5% 6.74 6.97 6.53 6.42 6.42 #2 Corn (ton) 237.00 232.00 216.00 207.00 215.00 #2 Barley 280.00 180.00 150.00 150.00 150.00 Wheat...Another relatively quiet week of trading for west coast wheat markets, which saw nearby white wheat basis continue to strengthen with bids holding near the $6 mark. Export demand for white wheat has remained fairly steady over the past six weeks, led this past week by a 2.5 mbus sale to unknown. Recent moisture across the Pacific Northwest has also provided a much-needed improvement to winter wheat conditions. Weekly Sales...USDA reported another reasonable week of export demand for U.S. wheat, coming in at 13.8 mbus to put year-to-date commitments at 510 mbus which is 22% ahead of a year ago and 2% above the 5-year average pace. Hard red winter was the top seller with 4.7 mbus, putting sales at 118 mbus which is 55% ahead of a year ago but 28% below average. Hard red spring booked 3.7 mbus and with 168 mbus in commitments, sets 16% ahead of a year ago and 15% above average. White wheat sales of 3.8 mbus puts the year-to-date total for that class at 133 mbus, which is 50% ahead of a year ago and 25% above average. Top Buyers...Mexico claimed top buyer honors last week with 3.9 mbus in purchases, followed by unknown with 2.7 mbus, Thailand with 2 mbus and The Philippines with 1.9 mbus. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.