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January 24, 2025
Portland Price Trends
01-01-24 08-01-24 12-01-24 01-17-25 01-24-25
#1 SWW (bus) 6.65 5.65 5.95 5.90 5.95
White Club 7.15 5.65 6.10 6.05 6.10
DNS 14% 8.03 6.58 6.67 6.59 6.72
HRW 11.5% 6.97 6.04 6.16 6.24 6.36
#2 Corn (ton) 232.00 199.00 212.00 237.00 237.00
#2 Barley 180.00 150.00 150.00 150.00 150.00
Wheat...Wheat futures moved higher for the third-straight week and in
the process, have bolstered hard red winter and dark northern spring wheat
bids. White wheat bids did hit the $6 mark this week for the first time
in over a month, but prices have generally held within a dime of that mark.
A seasonal cold front continues to blanket Pacific Northwest wheat growing
regions, with little to no snow cover in most areas.
Weekly Sales...USDA reported that wheat export demand took a big step
back, coming in at a third of the prior week's total. Sales of 6.1 million
bushels puts commitments at 650 million, which is 10% ahead of a year ago
but 2% below the five-year average pace. Hard red spring accounted for 2.9
million bushels of the total and with 213 million bushels in commitments is
running 11% ahead of a year ago and 10% above average. Hard red winter saw
2.7 million bushels in new sales, putting commitments at 152 million bushels
which is 48% ahead of a year ago but 27% below average. White wheat demand
came to a standstill with only 400,000 bushels in new bookings. Commitments
set at 176 million bushels, which is 46% ahead of a year ago and 21% below
the five-year average pace.
- Norm Ruhoff Contributing Analyst
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