Portland , OR Weekly Grain Review - Part 1 (Thu)

decrease font size  Resize text   increase font size       Printer-friendly version of this article Printer-friendly version of this article


JO_GR115
Portland, OR    Thu Mar 21, 2013    USDA Market News

Portland Weekly Grain Review Part 1
Pacific Northwest Weekly Grain Summary

   Pacific Northwest Market Summary:  Cash wheat bids for March delivery 
ended the reporting week on Thursday, March 21, mixed compared to week ago 
bids for the same delivery period.  Soft white wheat trended lower while 
hard red winter wheat and dark northern spring wheat trended higher.
 
   May wheat futures ended the reporting week on Thursday, March 21, higher  
as follows compared to last Thursday's closes:  Chicago four cents higher at 
7.2875, Kansas City 7.75 cents higher at 7.6050 and Minneapolis 1.75 cents 
higher at 8.0275.  Chicago May corn futures trended 16.50 cents higher at 
7.33 while May soybean futures closed 13.50 cents higher at 14.49.  Wheat 
futures were higher for the week, supported later in the week by commercial 
buying, spillover support from the higher row crop futures and outside 
markets, a lower US Dollar on Wednesday, noncommercial short covering, and 
trade concerns about cold weather in the US wheat growing areas.  Early in 
the week, wheat futures were pressured by profit taking, crop friendly rain 
forecasted, Euro-zone financial problems, commercial selling, spillover 
pressure from the lower row crop futures and a higher US Dollar.  Corn 
futures were supported during the week by higher outside markets on Friday, 
trade concerns over potential planting delays, commercial buying interest, 
an improved inspected-for-export figure of 15.4 million bushels (mb) for the 
week ending March 14, strong ethanol margins, and spillover buying support 
from wheat and soybeans on Wednesday.  Supportive factors later in the week 
to the higher soybean futures were short covering ahead of next week's USDA 
report, commercial buying, and ongoing Brazilian port problems.  Pressuring 
factors early in the week to the soybean futures were NOPA crush coming in 
below trade estimates, a lower-than-expected inspected-for-export figure of 
8.9 mb, profit taking, and commercial pressure. 

      Bids for US 1 Soft White Wheat delivered to Portland in unit trains or 
barges during March trended 31 to 32.75 cents per bushel lower than week ago 
bids for March delivery.  Some exporters were not issuing bids for nearby 
delivery.  

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for March 
delivery advanced by 7.75 to 12.75 cents per bushel compared to last 
Thursday's noon bids for March delivery.  Higher Kansas City May wheat 
futures and a higher basis bid by some exporters were supportive to bids.  
On Thursday, bids were as follows:  March 9.0050-9.0550, mostly 9.0050; 
April 8.9050-9.0550; May 8.8750-9.0550; June 8.7025-9.0025 and August New 
Crop 8.3625-8.4625.
 
   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring 
Wheat for March Portland delivery trended 1.75 cents per bushel higher 
compared with last week's noon bids in lining up with the higher Minneapolis 
May wheat futures.  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:  March 9.4775-9.5775, mostly 9.5175; April 9.3775-
9.5275; May 9.3275-9.4775; June 9.1750-9.2250 and August New Crop 8.8625-
8.9125.

   There were nine grain vessels in Columbia River ports on Thursday, March 
21, with four docked compared to 13 last Thursday with five docked.   
Confirmed new export sales were limited to Japan.  Japan purchased the 
following wheat in metric tons (mt):  23,020 of hard red winter wheat and 
30,148 of dark northern spring wheat for April 21 to May 20 shipment, as 
well as 23,680 of western white wheat for arrival by June 30.
Source:  USDA Market News, Portland, OR
         Niki Davila 503-326-2237 Portland.LGMN@ams.usda.gov
         24 hour price information 503-326-2022
         http://www.ams.usda.gov/mnreports/jo_gr115.txt
         www.ams.usda.gov/lpsmarketnewspage

1250p  nd

Buyers Guide

Doyle Equipment Manufacturing Co.
Doyle Equipment Manufacturing prides themselves as being “The King of the Rotary’s” with their Direct Drive Rotary Blend Systems. With numerous setup possibilities and sizes, ranging from a  more...
A.J. Sackett Sons & Company
Sackett Blend Towers feature the H.I.M, High Intensity Mixer, the next generation of blending and coating technology which supports Precision Fertilizer Blending®. Its unique design allows  more...
R&R Manufacturing Inc.
The R&R Minuteman Blend System is the original proven performer. Fast, precise blending with a compact foot print. Significantly lower horsepower requirement. Low inload height with large  more...
Junge Control Inc.
Junge Control Inc. creates state-of-the-art product blending and measuring solutions that allow you to totally maximize operating efficiency with amazing accuracy and repeatability, superior  more...
Yargus Manufacturing
The flagship blending system for the Layco product line is the fully automated Layco DW System™. The advanced technology of the Layco DW (Declining Weight) system results in a blending  more...
Yargus Manufacturing
The LAYCOTE™ Automated Coating System provides a new level of coating accuracy for a stand-alone coating system or for coating (impregnating) in an automated blending system. The unique  more...
John Deere
The DN345 Drawn Dry Spreader can carry more than 12 tons of fertilizer and 17.5 tons of lime. Designed to operate at field speeds up to 20 MPH with full loads and the G4 spreader uniformly  more...
Force Unlimited
The Pro-Force is a multi-purpose spreader with a wider apron and steeper sides. Our Pro-Force has the most aggressive 30” spinner on the market, and is capable of spreading higher rates of  more...
BBI Spreaders
MagnaSpread 2 & MagnaSpread 3 — With BBI’s patented multi-bin technology, these spreaders operate multiple hoppers guided by independent, variable-rate technology. These models are built on  more...

Related Articles

No matching related articles at this time.



Comments (0) Leave a comment 

Name
e-Mail (required)
Location

Comment:

characters left


LPV Seed Treater

The LPV Seed Treater has set a new standard boasting three configurable weighing methods for any-sized operation, a standard 42” ... Read More

View all Products in this segment

View All Buyers Guides

Feedback Form
Feedback Form