Portland Grain Review 12/10

December 10, 2024 Portland Price Trends 12-01-23 01-01-24 11-01-24 12-03-24 12-10-24 #1 SWW (bus) 6.80 6.65 6.00 6.00 5.95 White Club 7.30 7.15 6.15 6.15 6.10 DNS 14% 8.12 8.03 6.75 6.68 6.81 HRW 11.5% 7.02 6.97 6.42 6.20 6.40 #2 Corn (ton) 228.00 232.00 209.00 212.00 217.00 #2 Barley 180.00 180.00 150.00 150.00 150.00 Wheat...The recent strength in the futures market has been mirrored in cash bids for west coast hard red winter and dark northern spring wheat, while bids for soft white wheat have remained stable around the $6 level. As a result, white wheat basis to Chicago has declined by approximately 25 cents from its recent peak. Shipments...Weekly export inspections revealed that corn and soybean movement continues to be the primary focus of shipping activities. Total U.S. wheat shipments were only 8.3 million bushels, bringing the year-to- date total to 412 million bushels, which is 30% higher than a year ago. Exporters on the West Coast transported 4 million bushels of wheat, going primarily to Indonesia and Yemen, in addition to 17.4 million bushels of soybeans and nearly 12 million bushels of corn. Crop Report...USDA acknowledged an improved pace for white wheat export demand, which was the primary driver for a 20 mbus reduction in U.S. wheat ending stocks. White wheat exports were increased 15 mbus to 210 mbus; the best level of export demand in four years. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.