January 21, 2025
                                                                  
                                   Portland Price Trends
                 01-01-24    08-01-24    12-01-24    01-14-24   01-21-25
#1 SWW (bus)        6.65        5.65        5.95        5.95       5.95
White Club          7.15        5.65        6.10        6.10       6.10
DNS 14%             8.03        6.58        6.67        6.70       6.73
HRW 11.5%           6.97        6.04        6.16        6.39       6.43
#2 Corn (ton)     232.00      199.00      212.00      231.00     236.00
#2 Barley         180.00      150.00      150.00      150.00     150.00
 
   Wheat...The sharp rally across the futures complex on Tuesday improved
protein wheat bids, but white wheat prices once again held just under the
$6 mark. As a result, white wheat basis to Chicago weakened to 37 over and
down more than 20 cents from last week. Frigid temps are moving across the
Pacific Northwest this week, with most regions lacking snow cover.
   Shipments...Weekly export inspections showed another week of relatively
modest wheat movement off U.S. ports, coming in at 9.6 million bushels for
the week.  Year-to-date shipments are running 24% ahead of the same period
a year ago.  Top mover was hard red spring wheat with 3.9 million bushels,
white wheat registered 2.5 million and hard red winter 1.5 million bushels.
West coast exporters loaded 6.4 million bushels of wheat, going mostly to
South Korea but Yemen was also on the list of destinations.  Activity was
focused primarily on corn, with nearly 26 million bushels shipped off PNW
ports to Japan and South Korea.
   
                                      - Norm Ruhoff  Contributing Analyst

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