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January 22, 2019
Portland Price Trends
01-01-18 08-01-18 12-01-18 01-15-19 01-22-19
#1 SWW (bu) 5.32 6.05 6.25 6.24 6.40
White Club 5.32 6.05 6.25 6.24 6.40
DNS 14% 7.52 7.08 6.91 6.68 6.80
HRW 11.5% 5.60 6.89 6.50 6.45 6.61
#2 Corn (ton) 157.00 160.00 166.00 169.00 172.00
#2 Barley 128.00 140.00 140.00 140.00 140.00
Wheat...Rumors of China possibly purchasing U.S. wheat as part of the
current trade discussions spurred wheat futures higher today, providing a
boost to west coast wheat prices. White wheat remains the stalwart with
prices setting yet another marketing year high today. Recent export sales
and limited farm selling have been supportive. Hard red winter basis has
been holding steady while dark northern spring basis softened a nickel.
Shipments...Weekly export inspections showed another respectable week
of U.S. wheat shipments, coming in at nearly 20 mb to put total loadings
at 514 mb and 10% behind a year ago. Top shipper was hard red winter at
6.4 mb, but soft red winter saw a relatively strong week at 5 mb. Hard
red spring loaded 4.6 mb and soft white moved 2.9 mb. Top destinations
off the west coast included the Philippines with 3.6 mb, Japan with 2 mb
and Taiwan at 1.9 mb.
-Norm Ruhoff Contributing Analyst
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