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December 5, 2024
Portland Price Trends
12-01-23 01-01-24 11-01-24 11-28-24 12-05-24
#1 SWW (bus) 6.80 6.65 6.00 5.95 5.95
White Club 7.30 7.15 6.15 6.10 6.10
DNS 14% 8.12 8.03 6.75 6.66 6.73
HRW 11.5% 7.02 6.97 6.42 6.19 6.27
#2 Corn (ton) 228.00 232.00 209.00 210.00 211.00
#2 Barley 180.00 180.00 150.00 150.00 150.00
Wheat...It was mostly a sideways week for west coast wheat prices, as
bids gained some footing from higher futures markets on Thursday. White
wheat prices continue to hover within a dime of the $6 mark, supported by
another week of good buying out of South Korea.
Weekly Sales...USDA reported wheat export demand came in near the prior
week at 13.9 mbus, placing year-to-date commitments at 571 mbus which is
23% ahead of a year ago and 3% above the five-year average pace. Hard red
winter was top seller with 4.6 mbus and with 133 mbus in sales is setting
51% ahead of a year ago but 25% below average. White wheat garnered 3.7
mbus for the week, putting commitments at 151 mbus which is 53% ahead of a
year ago and 24% above average. Soft red winter booked 3.5 mbus to place
sales at 91 mbus, down 15% from a year ago but 17% above average. Hard red
spring saw 2.2 mbus in new business and with 185 mbus in the books, sets
16% ahead of a year ago and 14% above average.
Top Buyers...Mexico claimed top buyer honors last week with 5.6 mbus of
mostly hard red winter, South Korea bought 5 mbus of mostly soft white and
Unknown booked 2 mbus of soft red winter. Venezuela and Algeria rounded-out
the top five iwth 1.2 mbus and 1 mbus, respectively.
- Norm Ruhoff Contributing Analyst
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