Portland Grain Review 12/17

December 17, 2024 Portland Price Trends 12-01-23 01-01-24 11-01-24 12-10-24 12-17-24 #1 SWW (bus) 6.80 6.65 6.00 6.00 5.90 White Club 7.30 7.15 6.15 6.15 6.05 DNS 14% 8.12 8.03 6.75 6.81 6.71 HRW 11.5% 7.02 6.97 6.42 6.41 6.29 #2 Corn (ton) 228.00 232.00 209.00 218.00 218.00 #2 Barley 180.00 180.00 150.00 150.00 150.00 Wheat...Despite slightly higher world wheat prices, U.S. wheat futures drifted in early-week trade as exporters work to attract export demand. Soft white wheat bids also moved lower, but basis to Chicago strengthened by a dime from a week ago. Bid structures show all three classed of wheat flat through January. Pacific Northwest weather remains relatively mild for mid- December, with most growing regions seeing some fairly steady precipitation but lacking snow cover. Shipments...Weekly export inspections indicated another relatively quiet week for wheat shipments off U.S. ports, with corn and soybean exports taking the spotlight. Nearly 11 million bushels of wheat were exported, bringing the year-to-date total to 424 million bushels, which is 30% higher than the same period last year. Hard red spring and hard red winter wheat each accounted for about 4.5 million bushels, while soft white moved less than a million bushels. Export activity on the west coast showed 6 million bushels of wheat shipped, primarily to Japan and Thailand. Soybean shipments to China came in at 12.5 million bushels and 10 million bushels of corn went to Japan and South Korea. - Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.