Portland Grain Review 07/21

July 21, 2022 Portland Price Trends 07-01-21 08-01-21 06-01-22 07-14-22 07-21-22 #1 SWW (bu) 8.60 9.25 11.00 9.10 9.40 White Club 8.60 10.75 11.50 9.35 9.65 DNS 14% 9.37 10.33 12.77 9.98 10.03 HRW 11.5% 7.53 8.33 12.38 9.70 9.88 #2 Corn (ton) 252.00 251.00 322.00 274.00 265.00 #2 Barley 180.00 200.00 275.00 235.00 235.00 Wheat...West coast cash wheat prices reflected the modest week-to-week rebound in the futures complex, with white wheat basis seeing additional strength from a firmer basis. Trading activity remains light at current price levels and recent export demand is supporting white wheat markets. Weekly Sales...USDA reported another respectable week of export demand for U.S. wheat, coming in at 18.8 mb to put the year-to-date sales total at 279 mb; right in line with a year ago and 9% behind the five-year average pace. Hard red spring was top seller for the week with 6.8 mb, putting the current year tally at 81 mb which is 4% behind a year ago but 23% ahead of average. Hard red winter booked 5.2 mb and with 80 mb in commitments, sets 13% behind both a year ago and average. Soft white garnered another 3.4 mb in sales, placing the total at 58 mb which is 7% ahead of a year ago but 20% behind average. Soft red winter also booked 3.4 mb and with 55 mb in sales, sets 15% ahead of a year ago and 24% ahead of average. Top Buyers...Leading U.S. wheat buyers last week were the Philippines and Unknown, both taking 4 mb. Nigeria booked 3.3 mb of hard red winter, Mexico purchased 1.8 mb and Taiwan committed to another 1.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.