Portland Grain Review 03/22

March 22, 2022 Portland Price Trends 03-01-21 08-01-21 02-01-22 03-15-22 03-22-22 #1 SWW (bu) 7.60 9.25 10.75 11.50 11.50 White Club 7.60 10.75 12.50 12.50 12.50 DNS 14% 7.33 10.33 10.25 11.60 11.62 HRW 11.5% 7.48 8.33 9.86 12.57 12.08 #2 Corn (ton) 221.00 251.00 298.00 349.00 348.00 #2 Barley 170.00 200.00 240.00 270.00 270.00 Wheat...Basis levels for west coast wheat markets remain defensive on gains across respective futures markets, with all three classes seeing a decline. White wheat basis to Chicago remains the most erratic, having covered nearly a $1 range the past week. PNW weather forecasts show the first signs of warmer weather this week, coming after recent moisture and helping foster crops after breaking dormancy. The first official ratings will start the first week of April. Shipments...Weekly export inspections showed US wheat loadings came in on par with the prior week at 12.1 mb, putting year-to-date loadings down 17% from last year at 608 mb. Top shipper for the week was hard red winter with 5.3 mb, red spring at 3.8 mb and white wheat with less than a million bushels. West coast loadings showed a marked decline for shipments across all fronts with South Korea being the primary taker of wheat with 2.2 mb, and China taking on 4.8 mb of soybeeans and 5.2 mb of corn for the week. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.