Portland Grain Review 08/23

August 23, 2022 Portland Price Trends 08-01-21 01-01-22 07-01-22 08-16-22 08-23-22 #1 SWW (bu) 9.25 10.70 9.50 8.70 8.60 White Club 10.75 12.45 9.50 9.20 9.10 DNS 14% 10.33 10.78 10.28 9.83 9.85 HRW 11.5% 8.37 9.81 10.23 9.87 10.00 #2 Corn (ton) 245.00 274.00 278.00 281.00 293.00 #2 Barley 200.00 240.00 245.00 235.00 235.00 Wheat...The rebound across the futures complex bolstered west coast cash wheat prices in early-week trade. White wheat recovered 40 cents from the lows last week, dark northern spring is up 60 cents and hard red winter is up more than 70 cents. Relative values also show nearby hard red winter 11.5% protein bids moved above red spring 14 pro bids. Crop Progress...Hot and dry conditions advanced winter wheat harvest 30% in Washington last week, setting at 86% complete. Idaho is lagging the average pace by 40% at 85% complete and Oregon shows 90% harvested. Spring wheat harvest is also well underway with Idaho reporting 27% of the crop cut and Washington is at 40% complete. Shipments...Weekly export inpsections showed a surge in shipments of U.S. wheat last week, coming in at a marketing year high of 21.8 mb to put year-to-date loadings 22% behind a year ago at 165 mb. Top shipper for the week was white wheat, with 6.8 mb, followed by hard red winter at 5.8 mb and red spring with 4.3 mb. Japan was the top destination for wheat off the west coast, taking 7.3 mb, while the Philippines, Chile and Yemen each took about 2 mb. Corn saw 2.5 mb shipped for China. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.