Portland Grain Review 06/28

June 28, 2022 Portland Price Trends 06-01-21 08-01-21 05-01-22 06-21-22 06-28-22 #1 SWW (bu) 8.20 9.25 11.10 10.90 10.30 White Club 8.20 10.75 11.60 11.15 10.55 DNS 14% 8.71 10.33 12.48 11.51 11.27 HRW 11.5% 7.52 8.33 12.08 11.98 10.92 #2 Corn (ton) 249.00 251.00 347.00 335.00 275.00 #2 Barley 180.00 200.00 275.00 275.00 275.00 Wheat...West coast cash markets continued to mirror the recent drop across the futures complex, with basis levels remaining mostly unchanged from last week. Trading activity remains very limited with most of the focus on early-summer fieldwork and anticipation of a later than normal wheat harvest. Crop Progress...PNW winter wheat conditions lost a little ground over the past week, as the three-state weighted index slipped a point and now sits at 105% of average. Idaho saw good to excellent ratings drop 6% as the poor to very poor category climbed to 10%. Oregon shifted 3 points into the fair category with good to excellent now at 77%, and Washington gained 2 points to a 73% good to excellent rating. Spring wheat ratings stand at an exceptional 93% good to excellent rating for Washington, and Much needed growing degree days are currently being seen with the return of more seasonal hot and dry weather. Shipments...Weekly export inspections showed U.S. wheat loadings were on par with the prior week at 12.9 mb, putting shipments 12% behind last year at 49 mb. Hard red winter moved 5.2 mb, hard red spring was at 3.7 mb and soft white 1.7 mb. The Philippines was the top wheat destination off the west coast with 2.4 mb and Japan took on 14.8 mb of corn. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.