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November 28, 2023
Portland Price Trends
11-01-22 01-01-23 10-01-23 11-21-23 11-28-23
#1 SWW (bu) 9.10 8.55 6.60 6.80 6.75
White Club 9.60 9.05 6.95 7.30 7.25
DNS 14% 10.70 10.19 7.89 8.03 7.89
HRW 11.5% 11.10 10.08 7.17 6.72 6.65
#2 Corn (ton) 311.00 302.00 254.00 230.00 229.00
#2 Barley 250.00 250.00 180.00 180.00 180.00
Wheat...West coast white wheat cash bids fared better than the protein
wheat markets in early-week trade, as nearby basis levels firmed against
further declines in the futures complex. Trade activity remained on the
quiet side, as producers continue to limit selling at current levels.
Shipments...Weekly export inspections showed just 10 mb in U.S. wheat
shipments during the holiday-shortened week, highlighted by nearly 5 mb
of white wheat movement off the west coast. The Philippines accounted for
the majority of that amount, with smaller shipments recorded to China and
Indonesia. China also took 17 mb of soybeans off the west coast.
Crop Progress...Aside from further improvement for Idaho, winter wheat
conditions for the Pacific Northwest held mostly steady to last week. The
final assessement for the calendar year from USDA showed good to excellent
ratings for Idaho climbing 2 points to 82%. Oregeon lost 2 points to 37%
and Washington was unchanged at 52%.
-Norm Ruhoff Contributing Analyst
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