March 23, 2023
                                                                  
                                   Portland Price Trends
                 03-01-22    08-01-22    01-01-23    03-16-23   03-23-23
#1 SWW (bu)        11.25        9.00        8.55        8.00       7.55
White Club         12.75        9.00        9.05        8.00       7.55
DNS 14%            11.59       10.08       10.19        9.34       9.22
HRW 11.5%          11.83       10.00       10.08        9.60       9.57
#2 Corn (ton)     313.00      279.00      302.00      279.00     278.00
#2 Barley         260.00      235.00      250.00      250.00     240.00

   Wheat...Declines across the futures complex were apparent in the cash
markets for west coast wheat deliveries this week. The nearby white wheat
bids slipped 45 cents from last week.  Fresh export demand remains very
limited across all wheats, but the white wheat tally did show that China
has been a fairly active buyer. Year-to-date Chinese white wheat bookings
stand at 27 mb compared to 11 mb a year ago.
   Weekly Sales...USDA weekly export numbers showed recent price declines
did little to stimulate demand, as weekly sales came in below 5 mb for the
past week.  Year-to-date totals now stand at 656 mb, which is 5% below a
year ago and 18% behind the five-year average pace.  Top seller was white
wheat with 2.2 mb, putting sales at 151 mb which sets 32% ahead of a year
ago but 34% below average.  Hard red winter garnered just 1.8 mb in sales
and with 178 mb in commitments, stands 35% behind a year ago and 12% off
the average pace.  Hard red spring registered only 200,000 bushels in new
business last week.
   
      
                                    -Norm Ruhoff  Contributing Analyst

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