Portland Grain Review 03/08

March 8, 2022 Portland Price Trends 03-01-21 08-01-21 02-01-22 03-01-22 03-08-22 #1 SWW (bu) 7.60 9.25 10.75 11.00 11.80 White Club 7.60 10.75 12.50 12.50 12.80 DNS 14% 7.33 10.33 10.25 11.42 11.87 HRW 11.5% 7.48 8.33 9.86 11.93 12.38 #2 Corn (ton) 221.00 251.00 298.00 325.00 345.00 #2 Barley 170.00 200.00 240.00 260.00 260.00 Wheat...Continued volatility across the futures complex translated to sharply lower basis levels for west coast cash wheat prices as the week got underway. For its part, white wheat basis slipped to more than $1.00 under theChicgo May futures at one point, down $4.00 from mid-February. Hard red winter basis slipped $1.00 over the same time period and hard red spring was down 60 cents. Farmer trading activity has been focused on new crop pricing opportunities, with establishment of deferred hedge- to-arrive contracts. Shipments...Weekly export inspections showed wheat movement off all U.S. ports slowed by about 20% from the prior week, coming in at 12.6 mb to put year-to-date shipments at 582 mb and 15% below a year ago. Hard red winter loaded a total of 6.3 mb for the week, soft white registered a respectable 3.2 mb and hard red spring moved 2.5 mb. The Philippines and Japan were top wheat destinations off the west coast, while China took 5 mb of soybeans and 2.5 mb of corn. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.