Portland Grain Review 06/14

June 14, 2022 Portland Price Trends 06-01-21 08-01-21 05-01-22 06-07-22 06-14-22 #1 SWW (bu) 8.20 9.25 11.10 11.50 11.40 White Club 8.20 10.75 11.60 11.75 11.65 DNS 14% 8.71 10.33 12.48 13.08 12.92 HRW 11.5% 7.52 8.33 12.08 12.61 12.57 #2 Corn (ton) 249.00 251.00 347.00 331.00 335.00 #2 Barley 180.00 200.00 275.00 275.00 275.00 Wheat...West coast cash wheat prices were setting near the bottom end of recent trading ranges in early week trade, relecting the sideways move across the futures complex. White wheat did see basis strengthen against weakness in Chicago, as the nearly 3 mb CCC donation tender to Yemen last week gave some footing to the spot market. Crop Progress..Abundant moisture across the PNW region brought further improvement to the winter wheat crop over the past week, with the three- state index climbing another 2% to 104% of average. The good to excellent ratings for Idaho jumped 7% to 68% and Washington posted a 9% improvement to 71%, while Oregon dropped 9% to 58% with most of that shift going into "fair". Spring wheat emergence also improved to average status for Idaho and Washington, with spring crops showing respective good to excellent ratings of 79% and 81%. Shipments...Weekly export inspections showed another relatively good week for loadings of U.S. wheat, coming in at 14.2 mb to put shipments at 22.6 mb for the new year and 3 mb behind a year ago. Hard red winter was top shipper with 6.5 mb, moving mostly out of the Gulf. West coast ports saw Japan take 2 mb of wheat and South Korea take 5.4 mb of corn. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.