Portland Grain Review 02/06

February 6, 2025 Portland Price Trends 01-01-24 08-01-24 01-01-25 01-30-25 02-06-25 #1 SWW (bus) 6.65 5.65 5.90 6.05 6.10 White Club 7.15 5.65 6.05 6.20 6.25 DNS 14% 8.03 6.58 6.71 6.91 7.03 HRW 11.5% 6.97 6.04 6.33 6.51 6.62 #2 Corn (ton) 232.00 199.00 224.00 228.00 227.00 #2 Barley 180.00 150.00 150.00 150.00 150.00 Wheat...West coast wheat bids moved to their best levels in three months this week, but basis levels were defensive for both soft white and hard red winter wheat. White wheat basis to Chicago has been pared back by nearly a third from early January levels, as exporters hold cash bids at what appears to be globally competitive prices near the $6 mark. Bid structures show the white wheat market with nickel per month carrries into May, while protein wheats are mostly flat over the next 60 day delivery periods. Weekly Sales...USDA reported export demand for U.S. wheat exceeded the 16 million bushel mark for the second week in a row, putting commitments at 683 million bushels, which is 10% ahead of a year ago but 1% below the five-year average pace. For the first time in months, hard red winter was the top seller with 6.4 million bushels, putting total sales at 162 million bushels, which is 49% ahead of a year ago but 25% below average. Soft red winter scored 4.5 million bushels and with 102 million in commitments, sets 38% behind a year ago but 4% above average. White wheat booked 2.9 million bushels, putting commitments at 186 million which is 46% ahead of a year ago and 22% above average. Hard red spring saw 2.3 million bushels in new sales and with 219 million in the books is setting 8% ahead of a year ago and 8% above the average pace. Mexico was top buyer with 4.5 million bushels, followed by Unknown with 4.1 million and Panama with 2.8 million bushels. - Norm Ruhoff Contributing Analyst Copyright 2025 DTN/Telvent. All Rights Reserved.