Portland Grain Review 12/08
8 Dec 2022
December 8, 2022 Portland Price Trends 12-01-21 01-01-22 11-01-22 12-01-22 12-08-22 #1 SWW (bu) 10.65 10.70 9.10 8.80 8.50 White Club 12.65 12.45 9.60 9.30 9.00 DNS 14% 11.30 10.78 11.10 10.18 9.86 HRW 11.5% 9.83 9.81 10.70 10.10 9.65 #2 Corn (ton) 255.00 274.00 311.00 289.00 287.00 #2 Barley 240.00 240.00 250.00 250.00 250.00 Wheat...West coast white wheat markets continued to fare better than the protein wheats this week, as strengthening basis levels helped offset some of the weakness in Chicago futures. Recent export demand remains supportive against limited farm offerings. Weekly Sales...USDA reported another week of meager export sales for U.S. wheat, coming in at 7 mb to put overall commitments at 501 mb which sets 6% behind a year ago and 14% below the five-year average pace. Hard red winter registered 2.8 mb for the week to put sales at 136 mb, which is 36% behind a year ago and 6% below average. White wheat booked 2.5 mb and with 122 mb in commitments, sets 26% ahead of a year ago but 31% off the five-year average pace. White Wheat Buyers...Year-to-date comparisons for white wheat export sales show overall totals are running 25 mb ahead of a year ago. On the list of buyers, Indonesia accounts for 11 mb of the increase, Yemen and Chile are each up 6 mb, and China has bought 4 mb more than a year ago. Nigeria is down 6 mb, the Philippines is off 3 mb and Taiwan down 1 mb. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.