Portland Grain Review 12/15
15 Dec 2022
December 15, 2022 Portland Price Trends 12-01-21 01-01-22 11-01-22 12-08-22 12-15-22 #1 SWW (bu) 10.65 10.70 9.10 8.50 8.50 White Club 12.65 12.45 9.60 9.00 9.00 DNS 14% 11.30 10.78 11.10 9.86 9.97 HRW 11.5% 9.83 9.81 10.70 9.65 9.73 #2 Corn (ton) 255.00 274.00 311.00 287.00 298.00 #2 Barley 240.00 240.00 250.00 250.00 250.00 Wheat...Recent price weakness for U.S. wheat provided an opportunity for global buyers last week, and generated improved export demand. Soft white wheat held in a narrow 10 cent range this week, while spring wheat moved back toward the $10 level. Weekly Sales...USDA showed recent declines in U.S. wheat prices and a weaker dollar did stimulate export demand over the past week. Overall sales were the best in a month at 17.2 mb, putting total commitments at 518 mb; 7% behind a year ago and 14% below the five-year average pace. Hard red winter saw the best sales since September, coming in at 5.3 mb to put sales at 142 mb, which is 37% behind a year ago and 5% below the average pace. Hard red spring also booked 5.3 mb and with 158 mb sold, stands 7% ahead of a year ago and 13% behind average. Soft white also saw the best interest in a month, securing 4.8 mb in new sales to place commitments at 126 mb, which is 26% ahead of a year ago but 31% below the five-year average. Top Buyers...Unknown accounted for nearly one-third of the 17 mb in export sales last week, followed by South Korea with 3.3 mb, Japan at 2.3 mb, Mexico at 2 mb and Taiwan with 1.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.