Portland Grain Review 08/18

August 18, 2022 Portland Price Trends 08-01-21 01-01-22 07-01-22 08-11-22 08-18-22 #1 SWW (bu) 9.25 10.70 9.50 8.80 8.20 White Club 10.75 12.45 9.50 8.80 8.70 DNS 14% 10.33 10.78 10.28 9.95 9.35 HRW 11.5% 8.37 9.81 10.23 9.90 9.24 #2 Corn (ton) 245.00 274.00 278.00 281.00 279.00 #2 Barley 200.00 240.00 245.00 235.00 235.00 Wheat...A slower pace of demand and harvest pressure remained apparent across west coast wheat markets this week. White wheat markets are seeing a good yielding crop weigh on nearby prices, as bids moved to the lowest levels in over a year. Carries remain minimal, with dark northern spring showing a slight premium for October delivery. Weekly Sales...Despite recent declines in U.S. wheat prices, demand on the export front remains lethargic. USDA reported a marketing year low for export sales, coming in at 7.6 mb to put year-to-date sales at 324 mb; 2% below a year ago and 11% behind the five-year average pace. Red spring was top seller with 2.6 mb, putting commitments at 92 mb which is 2% below a year ago but 40% above average. Hard red winter saw only 1.7 mb in sales to put the current year total at 97 mb, setting 17% behind a year ago and 12% below average. White wheat registered 1.6 mb in new business, putting commitments at 71 mb which is 18% ahead of last year but 24% below average. Mexico and the Philippines were top buyers, securing 3.1 mb and 2.4 mb of U.S. wheat, respectively. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.