Portland Grain Review 11/17

November 17, 2022 Portland Price Trends 11-01-21 01-01-22 10-01-22 11-10-22 11-17-22 #1 SWW (bu) 10.60 10.70 9.30 8.80 8.70 White Club 12.60 12.45 9.80 9.30 9.20 DNS 14% 11.72 10.78 10.56 10.12 10.41 HRW 11.5% 9.60 9.81 11.09 10.47 10.46 #2 Corn (ton) 258.00 274.00 303.00 298.00 298.00 #2 Barley 240.00 240.00 240.00 250.00 250.00 Wheat...West coast wheat markets saw a marked shift in relative prices between classes of wheat this week, as gains in the spring wheat futures narrowed the spread between dark northern spring and hard red winter cash prices. The good pace of export demand for white wheat also continued for another week, but exporters reflected that with stronger bids into spring months for 2023 and widened carries. Weekly Sales...Overall U.S. wheat export demand remained subdued with the exception of white white, which once again led all classes of wheat in sales last week. Total sales came in slightly below the 4-week average pace at 10.7 mb, putting year-to-date commitments at 459 mb which sets 7% behind a year ago and 12% below the 5-year average pace. White wheat saw nearly 5 mb in new demand, putting sales at 115 mb; 27% ahead of a year ago and 27% below average. Hard red spring garnered 2.7 mb and with 138 mb in commitments, set 2% ahead of a year ago but 15% below average. Hard red winter booked 2.2 mb, putting sales at 130 mb which is 34% below last year at this time and 5% below average. Chile bought 2.2 mb of soft white last week, with the Philippines and Thailand each taking 1 million bushels. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.