September 26, 2023
Portland Price Trends
09-01-22 01-01-23 08-01-23 09-19-23 09-26-23
#1 SWW (bu) 8.90 8.55 7.05 6.80 7.00
White Club 9.40 9.05 7.30 7.05 7.25
DNS 14% 9.66 10.19 9.05 8.30 8.39
HRW 11.5% 9.88 10.08 8.24 7.56 7.53
#2 Corn (ton) 296.00 302.00 254.00 248.00 247.00
#2 Barley 235.00 250.00 210.00 190.00 190.00
Wheat...West coast white wheat markets firmed up in early week trade,
supported by limited farm selling interest and fresh export demand. USDA
completed a 1 mb white wheat donation tender last week and is working on
another 2 mb donation this week.
Crop Progress...With spring wheat harvest virtually complete across
the Pacific Northwest, producers have shifted to winter wheat planting.
Washington progress sets slightly behind average at 52% complete while
Idaho stands at less than half the average pace at 18% complete. Oregon
is 3% behind average at 15% planted. Emergence for Washington is right
on track with average.
Shipments...Weekly export inspections showed another relatively good
week of wheat movement off U.S. ports, coming in at 16.6 mb to put the
year-to-date total at 207 mb and 28% behind a year ago. Hard red spring
was the big mover with nearly 9 mb, followed by soft white with 3.1 mb.
Top destinations off the west coast were the Philippines with 3.5 mb and
China taking on 2.5 mb.
-Norm Ruhoff Contributing Analyst
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