Portland , OR Weekly Grain Review - Part 1 (Thu)
Portland, OR Thu Jan 24, 2013 USDA Market News
Portland Weekly Grain Review Part 1
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for January delivery
ended the reporting week on Thursday, January 24, steady to lower compared
to week ago bids for the same delivery period. Soft white wheat bids
trended steady to lower, while bids for hard red winter wheat and dark
northern spring wheat moved lower.
March wheat futures ended the reporting week on Thursday, January 24,
lower as follows compared to last Thursday's closes: Chicago 12.75 cents
lower at 7.6850, Kansas City 15.50 cents lower at 8.2150 and Minneapolis
13.75 cents lower at 8.5550. Chicago March corn futures trended 0.25 of a
cent lower at 7.2425 while March soybean futures closed 5.00 cents higher at
14.3525. Wheat and corn futures trended lower, while soybean futures moved
higher for the holiday shortened reporting week. On Friday, wheat and corn
futures were supported by noncommercial buying. A lower inspected-for-
export wheat figure of 21.8 million bushels for the week ending January 17
and trade thoughts that the wheat markets were overbought on Tuesday
pressured wheat futures. On Wednesday, a higher US Dollar against foreign
currencies, lower outside markets and lower corn and soybeans futures also
weighed on the wheat futures. Lower soybean futures and lower outside
markets on Wednesday pressured corn futures. Soybean futures were supported
on Tuesday by an excellent inspected-for-export figure of 48 million
bushels, a lower US Dollar and rainfall in some parts of Brazil. On
Wednesday, possible cancellations of nearby export sales weighed on soybean
futures. On Thursday, soybean futures were pressured by forecasts for
beneficial rainfall in South America. Wheat futures moved lower in sympathy
with the lower soybean futures on Thursday.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or
barges during January trended steady to 2.75 cents per bushel lower than
week ago bids for January. Some exporters were not issuing bids for nearby
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for January
delivery declined by 15.50 cents per bushel compared to last Thursday's noon
bids in lining up with the lower Kansas City March wheat futures. On
Thursday, bids were as follows: January 9.1150-9.3150, mostly 9.2050;
February 9.2050-9.3150; March 9.2650-9.3150; April 9.2725-9.3425, May
9.3225-9.3725 and August New Crop 8.9225-9.0225.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring
Wheat for January Portland delivery trended 13.75 cents per bushel lower
compared with last week's noon bids pressured by the lower Minneapolis March
wheat futures. Some exporters were not issuing bids for nearby delivery.
Protein scales for non-guaranteed 14.0 percent protein were plus zero cents
each 1/4 of a percent of protein up to 16 percent protein and minus four to
five cents each 1/4 of a percent of protein down to 13 percent protein. On
Thursday, bids for non-guaranteed 14 percent protein were as follows:
January 9.4050-9.5550, mostly 9.4850; February and March 9.5050-9.6050;
April 9.6050-9.6250, May 9.6450-9.6750 and August New Crop 9.5325-9.6825.
There were 13 grain vessels in Columbia River ports on Thursday, January
24 with four docked compared to 16 last Thursday with three docked. New
confirmed export sales of grain for Pacific Northwest loadout during the
week were limited to Japan. Japan purchased 27,317 metric tons (mt) of
minimum 14 percent protein dark northern spring wheat for February 21 to
March 20 shipment. Japan also purchased 11,700 mt of maximum 10.5 percent
protein western white wheat and 13,495 mt of minimum 11.7 percent protein
hard red winter wheat for arrival by April 30.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LGMN@ams.usda.gov
24 hour price information 503-326-2022
Self-contained hydraulic system with power cables (hydraulic). Tandem Henschen axles (hydraulic). Hydraulic fenders. Manual or hydraulic tilt. 6,500-gallon tank.
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