October 26, 2021
                                                                  
                                   Portland Price Trends
                 10-01-20    01-01-20    09-01-21    10-19-21   10-26-21
#1 SWW (bu)         5.70        6.65       10.85       10.55      10.55
White Club          6.05        6.65       12.85       12.55      12.55
DNS 14%             6.53        7.14       10.34       10.94      11.67
HRW 11.5%           6.46        7.38        8.64        9.09       9.43
#2 Corn (ton)     168.00      211.00      242.00      252.00     258.00
#2 Barley         130.00      145.00      240.00      240.00     240.00

   Wheat...West coast markets showed both hard red winter and red spring
wheat prices advancing in early week trade, while soft white wheat bids
held steady. From a basis standpoint, white wheat to Chicago stands near 
300 over which is nearly triple the 10-year average.  Hard red winter is
at 160 over KC futures and 35% above average, while dark northern spring
wheat sets at 125 over and 25 cents below average.
   Shipments...Weekly export inspections showed another relatively light
week of export shipments for U.S. wheat, coming in at just 5.1 mb to put
loadings at 348 mb and 14% behind a year ago. Hard red winter registered
2.2 mb in shipments for the week, hard red spring was at 2.2 mb and soft
white moved less than 1 mb. Japan and Taiwan were the only two takes off
the west coast.
   Crop Progress...Winter wheat plantings are virtually complete for the
PNW, but crop conditions show the lingering effects of an extremely dry
fall.  Washington winter wheat is rated 28% poor to very poor and Oregon
shows 73%, while Idaho reports a third of the crop at good to excellent.
    
                                   -Norm Ruhoff  Contributing Analyst

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