Portland Grain Review 09/22

September 22, 2022 Portland Price Trends 09-01-21 01-01-22 08-01-22 09-15-22 09-22-22 #1 SWW (bu) 10.85 10.70 9.00 9.45 9.70 White Club 12.85 12.45 9.00 9.55 10.20 DNS 14% 10.34 10.78 9.77 10.13 10.48 HRW 11.5% 8.69 9.81 9.76 10.49 10.93 #2 Corn (ton) 240.00 274.00 276.00 304.00 304.00 #2 Barley 240.00 240.00 235.00 240.00 240.00 Wheat...Recent strength in white wheat prices has been supported by a strong pace of export demand, and USDA revealed that the bulk of that business has been with swing buyers. Sales previously assigned to the "unknown" category were switched to Indonesia and China in this week's report, showing repsective sales to those countries of 5 mb and 4.7 mb. Improved demand has moved cash white wheat bids back to the best levels since late June. Weekly Sales...USDA reported total U.S. wheat export demand of 6.7 mb over the past week, coming in at about half the four-week average. Lower numbers came primarily from hard red winter, which only saw 400,000 bu in net sales. Sales for that class stand at 110 mb, which is 27% behind a year ago and 7% below the five-year average pace. Relative prices favored interest in hard red spring, which recorded 4.7 mb in new sales and with 112 mb in commitments, sets 4% ahead of a year ago and 70% above average. White wheat registered 2.4 mb in sales and with 87 mb in the books, sets 22% ahead of a year ago but 26% behind average. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.