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

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Portland, OR    Thu Apr 17, 2014    USDA Market News

Portland Weekly Grain Review Part 1
Pacific Northwest Weekly Grain Summary

   Pacific Northwest Market Summary:  Cash wheat bids for April delivery 
ended the reporting week on Thursday, April 17, moderately higher 
compared to last week's April bids.  

   May wheat futures ended the reporting week on Thursday, April 17, 
higher as follows compared to last Thursday's closes:  Chicago 29.00 
cents higher at 6.9125, Kansas City 35.50 cents higher at 7.2250 and 
Minneapolis wheat futures trended 31.75 cents higher at 7.3275.  Chicago 
May corn futures trended 6.50 cents lower at 4.9475 while May soybean 
futures closed 31.75 cents higher at 15.14.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains or 
barges during April were 16.25 to 29 cents per bushel higher than last 
Thursday's bids for April delivery.  Higher Chicago May wheat futures for 
the week were supportive to bids, although some exporters lowered their 
basis which tempered the advances.  

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for April 
delivery trended 20.50 to 25.50 cents per bushel higher than last 
Thursday's noon bids for the same delivery period.  Bids were supported 
by the higher Kansas City May wheat futures for the week.  On Thursday, 
bids were as follows:  April 8.63-8.78, mostly 8.72; May 8.58-8.73; June 
8.55-8.70; July 8.50-8.55 and August New Crop 8.2650-8.4640.

   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring 
Wheat for April Portland delivery trended 21.75 cents per bushel higher 
than last Thursday's noon bids for the same delivery period.  The higher 
Minneapolis May wheat futures for the week were supportive to bids, 
although a lower basis bid by some exporters tempered the advances.  On 
Thursday, bids for non-guaranteed 14 percent protein were as follows:  
April 8.7275-8.8275, mostly 8.7875; May 8.6775-8.8275; June 8.6975-
8.7975; July 8.4975-8.6975 and August New Crop 8.26-8.46.

   There were 23 grain vessels in Columbia River ports on Thursday, April 
17, with five docked compared to 19 last Thursday with five docked.  New 
confirmed export sales this week was to Japan and Taiwan.  Taiwan 
purchased the following wheat in metric tons (mt):  13,500 of 10.5 
percent protein soft white wheat, 10,350 of 12.5 percent protein hard red 
winter wheat and 28,900 of 14.5 percent protein dark northern spring 
wheat for May 29 to June 12 shipment.  Taiwan also purchased 10,850 mt of 
13 percent protein northern spring wheat and 28,900 mt of 14.5 per cent 
protein dark northern spring wheat.  Japan purchased the following US 
wheat in mt: 28,021 of western white wheat and 30,300 of minimum 14 
percent protein dark northern spring wheat for two shipments between May 
21 and July 20.

Source:  USDA Market News, Portland, OR
         Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
         24 hour price information 503-326-2022

1225p  ts

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