May 8, 2025

Portland Price Trends
05-01-24 08-01-24 04-01-25 05-01-25 05-08-25
#1 SWW (bus) 6.00 5.65 6.15 6.25 6.25
White Club 6.00 5.65 6.30 6.40 6.40
DNS 14% 7.87 6.58 6.64 6.63 6.67
HRW 11.5% 6.95 6.04 6.10 5.64 5.60
#2 Corn (ton) 223.00 199.00 218.00 221.00 210.00
#2 Barley 155.00 150.00 170.00 170.00 170.00

Wheat...It was a mostly sideways trek for west coast cash wheat prices,
reflective of the trading range posted across the futures complex. White
wheat basis firmed against declines in Chicago, moving to 20 cents above
the 10-year average and the highest level in over a year. By comparison,
hard red winter is setting at the lowest point in nearly a year and dark
northern spring wheat basis is setting at less than half it's long-term
average for early May.
Weekly Sales...USDA reported a notable increase in export demand for
U.S. wheat last week, coming in above 20 million bushels for both old and
new crop positions. Sales of 18.1 million bushels for next marketing year
puts that total at 94 million bushels, which is 14% below a year ago. Hard
red winter was the top seller with 7.5 million bushels, followed by soft
red winter with 5.2 million and white wheat with 3.9 million. Unknown was
top buyer for the week with 6.7 million bushels, followed by South Korea
taking 3.7 million bushels.

- Norm Ruhoff Contributing Analyst

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