Portland Grain Review 05/02

May 2, 2022 Portland Price Trends 05-01-21 08-01-21 04-01-22 04-26-22 05-02-22 #1 SWW (bu) 7.85 9.25 10.75 11.25 11.00 White Club 7.85 10.75 11.75 11.75 11.40 DNS 14% 8.59 10.33 11.45 12.68 12.41 HRW 11.5% 8.03 8.33 11.14 12.80 12.07 #2 Corn (ton) 299.00 251.00 347.00 384.00 385.00 #2 Barley 180.00 200.00 270.00 275.00 275.00 Wheat...West coast white wheat markets saw cash bids drifting lower with Chicago futures in early week trade, but nearby basis did firm by 20 cents from last week. Club wheat premiums also narrowed a bit more, setting at 50 cents over white wheat versus a high of $2.00 from late December. With new crop August white wheat prices setting at a 50 cent discount to old crop, buyer interest has shifted toward the new year. Crop Progress...USDA reported the PNW winter wheat crop has at least stabilized, with the three-state index showing the crop holding at 94% of average over the past week. Idaho showed a loss of 4% in the good to excellent category, setting at 52%. Oregon saw a 2% improvement to 57% and Washington also gained 2 points to 54%. Spring wheat plantings for the PNW are on track with average in Washington at 75%, while Idaho is lagging the average pace by 10% with 57% sown. Shipments...Weekly export inspections showed a slight uptick in U.S. wheat loadings from the prior week, coming in at 14.1 mb to place the current year total 19% behind a year ago at 689 mb. Top destinations for wheat off PNW ports were South Korea and the Philippines and China was the big taker for corn. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.