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April 15, 2021
Portland Price Trends
04-01-20 08-01-20 03-01-21 04-08-21 04-15-21
#1 SWW (bu) 6.10 5.60 7.60 6.70 7.20
White Club 7.60 6.00 7.60 6.70 7.20
DNS 14% 7.04 6.21 7.33 7.40 7.67
HRW 11.5% 6.30 5.71 7.48 6.97 7.29
#2 Corn (ton) 155.00 151.00 221.00 235.00 250.00
#2 Barley 130.00 130.00 170.00 180.00 180.00
Wheat...The rebound across the futures complex spurred the west coast
cash wheat markets this week, most notably in white wheat where spot bids
moved 50 cents higher. Exporters cleared recent logistical bottlenecks
on the river system and resumed a push for nearby shipments. Bid sheets
show cash white wheat bid flat at $7.20 into Janaruary 2022.
Weekly Sales...USDA reported the typical net loss in old crop wheat
sales for early April, as buyers roll sales to new crop positions. With
a net weekly decline of 2.1 mb, US wheat export commitments stand at 923
mb which is even with a year ago but 4% ahead of the five-year average
pace. New crop sales of 9.9 mb put that total at 73 mb, which is up 17%
from this time a year ago. The plus side of that ledger shows soft white
new crop sales more than double a year ago at 18 mb, and hard red spring
commitments up nearly 60% at 20 mb. New crop sales for hard red winter
are down 40% from a year ago at 18 mb.
-Norm Ruhoff Contributing Analyst
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