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August 5, 2021
Portland Price Trends
08-01-20 01-01-20 07-01-21 07-29-21 08-05-21
#1 SWW (bu) 5.60 6.65 8.60 9.10 9.35
White Club 6.00 6.65 8.60 10.60 10.85
DNS 14% 6.21 7.14 9.37 10.18 10.14
HRW 11.5% 5.71 7.38 7.53 7.94 8.22
#2 Corn (ton) 151.00 211.00 280.00 252.00 248.00
#2 Barley 130.00 145.00 180.00 200.00 200.00
Wheat...West coast white wheat markets saw wheat prices advance over
the past week, spurred by a recent CCC donation tender and limited farm
offerings. Basis levels also strengthened for all wheats, with hard red
winter gaining 20 cents and red spring up a dime over the past week.
Weekly Sales...USDA reported another week of subdued export demand as
current prices keep global buyers securing needs hand to mouth. Sales of
11.3 mb were 4 mb under the four-week average, putting total commitments
at 309 mb which is 18% below a year ago and 13% under the five-year pace.
Top seller was hard red winter with 5.2 mb, putting current year sales at
105 mb which is 25% below a year ago and 18% below average. White wheat
garnered the best total in three weeks at 2.6 mb, which puts commitments
at 58 mb; 22% below a year ago and 24% behind the five-year average pace.
Hard red spring saw 1.1 mb in new sales with with 88 mb in the books sets
20% behind last year and 14% below average. Mexico was the top buyer last
week, securing 3.6 mb of hard and soft red winter wheat.
-Norm Ruhoff Contributing Analyst
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