Portland Grain Review 01/24

January 24, 2023 Portland Price Trends 01-01-22 08-01-22 12-01-22 01-17-22 01-24-22 #1 SWW (bu) 10.70 9.00 8.80 8.30 8.25 White Club 12.45 9.00 9.30 8.80 8.75 DNS 14% 10.78 10.08 10.18 9.90 9.81 HRW 11.5% 9.81 10.00 10.10 9.69 9.53 #2 Corn (ton) 274.00 279.00 295.00 298.00 294.00 #2 Barley 240.00 235.00 250.00 250.00 250.00 Wheat...West coast white wheat market showed some resilience as the week got underway, with basis levels strengthening against the swoon in Chicago wheat futures on Monday. Nearby bids have seen a 60 cent decline since the first of December but regained some footing today with higher futures. Exporter bid structures remain flat into April, with new crop August posted at $7.80 today. Shipments...Weekly export inspections showed another relatively good week of export movement for U.S. wheat, coming in at 12.2 mb to put the year-to-date total 3% behind a year ago at 469 mb. Hard red winter was the top shipper with 4.5 mb, followed by a solid week for white wheat at 4.2 mb. West coast loading activity showed South Korea taking on 3.3 mb of wheat, with China taking 2.8 mb of corn and 25 mb of soybeans. White Wheat Prices...A look at west coast white wheat prices for the marketing year to-date shows a high of $11.60 posted last June to a low of $8.20 placed the last two weeks, with an average of $9.16 per bushel. Over the prior five years, prices reached a high of $12.60 and a low of $4.90, posting an average price of $6.92 per bushel. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.