Portland Grain Review 05/26

May 26, 2022 Portland Price Trends 05-01-21 08-01-21 04-01-22 05-19-22 05-26-22 #1 SWW (bu) 7.85 9.25 10.75 12.00 11.65 White Club 7.85 10.75 11.75 12.50 12.15 DNS 14% 8.59 10.33 11.45 13.95 13.72 HRW 11.5% 8.03 8.33 11.14 14.01 13.48 #2 Corn (ton) 299.00 251.00 320.00 338.00 333.00 #2 Barley 180.00 200.00 270.00 275.00 275.00 Wheat...West coast cash wheat prices generally drifted lower through the week in tandem with the futures complex, but basis levles did show a firmer tone. White wheat spot markets were down 35 cents week to week, and nearly a dollar off recent highs. but basis to Chicago strengthened more than 20 cent from a week ago. Cash bid declines were most prominent in dark northern spring from last week, but basis did firm by 10 cents. Hard red winter also saw basis strengthen a dime from a week ago and all markets are showing mostly flat bid structure through new crop months. Weekly Sales...Seasonal rolling of old crop sales brought a small net decline to U.S. wheat sales, putting the total at 714 mb which is about 25% behind a year ago and the five-year average pace. New crop bookings over the past week came in at 9 mb to place new crop commitments at 110 mb and 32% behind a year ago. By class, sales of hard red winter are 47% behind a year ago for 2022/23 and white wheat commitments are down 45%. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.