October 30, 2025

Portland Price Trends
10-01-24 01-01-25 09-01-25 10-23-25 10-30-25
#1 SWW (bus) 6.00 5.90 6.05 5.90 5.90
White Club 6.15 6.05 6.40 6.25 6.25
DNS 14% 7.05 6.71 6.45 6.28 6.32
HRW 11.5% 6.53 6.33 5.85 5.70 5.85
#2 Corn (ton) 216.00 224.00 203.00 201.00 202.00
#2 Barley 150.00 170.00 170.00 160.00 160.00

Wheat...It was yet another week of rangebound trade for the west coast
cash wheat markets, but white wheat did briefly hit the $6 mark and basis
levels firmed for both hard red winter and dark northern spring. The spot
basis for white wheat slipped a dime from last week. Recent moisture for
the Pacific Northwest has boosted winter wheat conditions.
White Wheat Supply & Demand...The most recent supply and demand report
from USDA pegged 2025/26 white wheat production up 10% from the five-year
average at 282 million bushels, with total supply up 8% from the average
and the highest since 2020. The last export sales report showed demand at
the export level 13% above the five-year average against the current USDA
projection of being 3% below average. Ending stocks were projected to be
18% above average, with the stocks-to-use ratio expected to climb 3% to
31%, which would also be 3% above the five-year average.

- Norm Ruhoff Contributing Analyst

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