Portland Grain Review 08/04

August 4, 2022 Portland Price Trends 08-01-21 01-01-22 07-01-22 07-28-22 08-04-22 #1 SWW (bu) 9.25 10.70 9.50 9.20 8.80 White Club 10.75 12.45 9.50 9.45 8.80 DNS 14% 10.33 10.78 10.28 10.08 9.80 HRW 11.5% 8.37 9.81 10.23 10.00 9.70 #2 Corn (ton) 245.00 274.00 278.00 279.00 273.00 #2 Barley 200.00 240.00 245.00 235.00 235.00 Wheat...White wheat markets remained well-supported through the week as USDA showed current prices levels remain attractive to global buyers. Indonesia, typically a price-conscious "swing" buyer, booked 2.5 mb of U.S. white wheat and along with 2.4 mb in bookings from "unknown", put white wheat at the top of the sellers for U.S. wheat last week. Nearby basis reflected the interest, strenghtening as needed against Chicago futures to hold cash bids competitive within 20 cents of the $9 level. Weekly Sales...With the exception of white wheat, USDA showed export demand for U.S. wheat waned over the past week. Sales of 9.2 mb came in at less than half the four-week average, putting current year commitments at 303 mb which sets 2% below a year ago and 9% under the 5-year average pace. White wheat led as top seller for the week, registering 5 mb in new business to put sales at 68 mb and stands 18% ahead of a year ago but 22% below average. Hard red winter recorded only 2.7 mb and with 88 mb in the books, sets 16% behind a year ago and 10% below average. Hard red spring saw 1.3 mb in sales, putting commitments at 84 mb which sets 4% behind a year ago but 28% above average. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.