February 18, 2025

Portland Price Trends
01-01-24 08-01-24 01-01-25 02-11-25 02-18-25
#1 SWW (bus) 6.65 5.65 5.90 6.15 6.30
White Club 7.15 5.65 6.05 6.30 6.45
DNS 14% 8.03 6.58 6.71 7.01 7.16
HRW 11.5% 6.97 6.04 6.33 6.47 6.78
#2 Corn (ton) 232.00 199.00 224.00 230.00 232.00
#2 Barley 180.00 150.00 150.00 150.00 150.00

Wheat...Even with defensive basis levels, west coast wheat bids caught
the updraft in the futures complex coming out of the long weekend, moving
to the best price levels in months. White wheat bids edged higher and at
$6.30, set at the highest bid since last June. The arctic blast that moved
through the Pacific Northwest over the past week found most wheat growing
regions under snow cover.
Shipments...Weekly export inpsections showed exporter activities were
focused on row crop movement, with overall wheat shipments coming in at
less than half the prior week at 9.1 million bushels. Year-to-date totals
stand at 545 million bushels, which is 23% ahead of the same period a year
ago. Soft red winter was the top mover with 2.6 million bushels, followed
by hard red spring at 2.2 million and hard red winter at 1.1 million. Soft
white wheat saw less than a million bushels loaded out. West coast export
activity showed 5.4 million bushels of wheat shipped, that went mostly to
South Korea. Corn was the big mover off the west coast with 23.5 million
bushels shipped for South Korea, Japan and Vietnam.

- Norm Ruhoff Contributing Analyst

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