Portland Grain Review 12/22

December 22, 2022 Portland Price Trends 12-01-21 01-01-22 11-01-22 12-15-22 12-22-22 #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 9.97 9.88 HRW 11.5% 9.83 9.81 10.70 9.73 10.08 #2 Corn (ton) 255.00 274.00 311.00 298.00 294.00 #2 Barley 240.00 240.00 250.00 250.00 250.00 Wheat...The wheat futures complex quietly moved higher for the second week in a row and west coast cash prices reflected those gains. Hard red spring and hard red winter bids are setting 30 cents above recent lows, while soft white wheat bids held in a 15 cent range the past two weeks. Record cold temps were registered across the Pacific Northwest this week but good snow cover is blanketing most of the winter wheat crop. Weekly Sales...USDA showed weekly export sales for U.S. wheat came in right at the four-week average and with 12.3 mb in new business over the last week, commitments stand 8% behind a year ago and 14% below the five- year average pace at 531 mb. Top seller was white wheat, registering 4.2 mb to put sales 25% ahead of a year ago and 29% below average at 130 mb. Hard red winter booked 3.5 mb and with 145 mb in sales, sets 36% below a year ago and 6% behind average. Hard red spring saw 3.2 mb in sales to put commitments at 161 mb; 5% ahead of a year ago but 13% below average. Top Buyers...Unknown was the top buyer, booking 3.2 mb of moslty soft white wheat. Japan bought 2.4 mb of hard red winter and spring wheat, and Thailand secured 2 mb of hard red spring and white wheat. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.