October 22, 2024
                                                                  
                                   Portland Price Trends
                 10-01-23    01-01-24    09-01-24    10-15-24   10-22-24
#1 SWW (bus)        6.60        6.65        5.65        6.05       6.00
White Club          6.95        7.15        5.80        6.20       6.15
DNS 14%             7.89        8.03        6.60        6.86       6.87
HRW 11.5%           7.17        6.97        6.10        6.38       6.42
#2 Corn (ton)     254.00      232.00      197.00      205.00     205.00
#2 Barley         280.00      180.00      150.00      150.00     150.00
 
   Wheat...Steady was the word for early-week west coast market activity,
as all three classes of wheat held in-line with last week's numbers. Soft
white wheat basis has firmed and is hovering at the best levels since late
August. Bid structures for all markets are mostly flat into December.
   Shipments...Weekly export inspections showed a notable decline in U.S.
wheat shipments last weeek, as corn and soybean movement took center stage.
Total wheat shipments came in at just under 10 mbus to put the year-to-date
tally at 340 mbus and 34% ahead of a year ago.  Hard red winter was the top
shipper with 3.8 mbus, followed by hard red spring with 2.6 mbus and white
wheat with 1.8 mbus.  West coast exporters moved 6 mbus of wheat, mostly to
Japan, and nearly 35 mbus of soybeans for China.
   Crop Progress...Winter wheat planting progress for the Pacific Northwest
shows Washington virtually complete, Idaho at 90% complete and Oregon ahead
of average at 83% planted.  Emergence for Idaho is right on track with the
five-year average, while Oregon and Washington report emergence well-above
the average.  Widespread early-week rainfall should improve conditions.

                                   -Norm Ruhoff  Contributing Analyst

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