Portland Grain Review 06/16

June 16, 2022 Portland Price Trends 06-01-21 08-01-21 05-01-22 06-09-22 06-16-22 #1 SWW (bu) 8.20 9.25 11.10 11.60 11.40 White Club 8.20 10.75 11.60 11.85 11.65 DNS 14% 8.71 10.33 12.48 13.06 12.89 HRW 11.5% 7.52 8.33 12.08 12.66 12.58 #2 Corn (ton) 249.00 251.00 347.00 341.00 341.00 #2 Barley 180.00 200.00 275.00 275.00 275.00 Wheat...West coast wheat markets saw a slightly weaker tone through the week, but regained some footing with the uptick across the futures complex on Thursday. Exporter bid structures for all the wheats remain mostly flat into new crop months, as limited export demand is generally met on a hand-to-mouth basis. Pacific Northwest weather remains nearly ideal for crop development with ratings likely to show further gains on the crop progress reports Monday. Weekly Sales...Weekly export sales showed another week of generally subdued demand for U.S. wheat, coming in at 8.7 mb to put the total for the new year at 176 mb. This stands 17% behind a year ago, 6% below the the five-year average pace and the slowest start since 2009. Hard red winter was top seller with 4.4 mb and with 49 mb in commitments sets 25% behind a year ago, and 14% below average. White wheat garnered 2 mb to put sales at 35 mb, which is 22% below a year ago and 10% behind average. Brazil and Mexico were the top buyers for the week, securing a combined 5 mb of mostly hard red winter wheat. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.