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October 13, 2020
Portland Price Trends
10-01-19 01-01-20 09-01-20 10-06-20 10-13-20
#1 SWW (bu) 5.90 6.15 5.35 5.85 5.85
White Club 5.90 7.65 5.70 6.15 6.20
DNS 14% 6.58 7.21 6.51 6.58 6.66
HRW 11.5% 5.61 6.26 6.20 6.79 6.66
#2 Corn (ton) 173.00 172.00 163.00 168.00 170.00
#2 Barley 150.00 140.00 130.00 130.00 130.00
Wheat...West coast wheat markets showed white wheat holding steady to
week-ago levels in early week trade. Relative values are reflecting the
strength in hard red winter markets, as cash bids continue to show hard
red winter at a rare premium to dark northern spring wheat. Both white
and hard red spring are also showing carry in the bid structure, while
hard red winter bids are flat on the front side of the market.
Shipments...Weekly export inspections revealed a slowed pace of wheat
export movement last week, coming in at 17.3 mb to put the year-to-date
total at 383 mb and 10% ahead of a year ago. Top shipper was red spring
wheat with 9.5 mb, followed by hard red winter with 7 mb. Soft white saw
only 400,000 bushels shipped. Top destination off the west coast ports
was China, taking 4.6 mb of red wheat.
Crop Progress...USDA reportes winter wheat planntings tracking near
the average pace for Idaho and Washington, with both states reported 80%
complete. Oregon is 8% behind average at 49% planted. Widespread rains
across the region this week should improve conditions.
-Norm Ruhoff Contributing Analyst
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