Portland, OR Thu May 15, 2014 USDA Market News
Portland Weekly Grain Review Part 1
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for May delivery
ended the reporting week on Thursday, May 15, moderately lower compared
to last week's May bids.
July wheat futures ended the reporting week on Thursday, May 15, lower
as follows compared to last Thursday's closes: Chicago 57 cents lower at
6.7825, Kansas City 63.75 cents lower at 7.7875 and Minneapolis wheat
futures trended 50.75 cents lower at 7.55. Chicago July corn futures
trended 32.25 cents lower at 4.8425 while July soybean futures closed
0.75 of a cent higher at 14.7025.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or
barges during May were 40.25 to 46.75 cents per bushel lower than last
Thursday's bids in following the moderately lower Chicago July soft red
winter wheat futures for the week. Some exporters were not issuing bids
for nearby delivery.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for May
delivery trended 73.75 to 83.75 cents per bushel lower than last
Thursday's noon bids. Bids were pressured by the moderately lower Kansas
City July wheat futures for the week, although some exporters raised
their basis to temper declines somewhat. Some exporters were not issuing
bids for nearby delivery. On Thursday, bids were as follows: May
8.5375-8.5875, mostly 8.5675; June 8.5375-8.6375; July 8.4375-8.5875;
August New Crop 8.39-8.54 and September 8.49-8.59.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring
Wheat for May Portland delivery trended 45.75 to 50.75 cents per bushel
lower than last Thursday's noon bids. The moderately lower Minneapolis
July wheat futures weighed on bids. Some exporters were not issuing bids
for nearby delivery. On Thursday, bids for non-guaranteed 14 percent
protein were as follows: May 8.85-8.90, mostly 8.88; June 8.70-8.85;
July 8.55-8.80; August New Crop 8.5275-8.8275 and September 8.4275-
There were seven grain vessels in Columbia River ports on Thursday,
May 15, with two docked compared to seven last Thursday with three
docked. New confirmed export sales this week were limited to Japan.
Japan purchased the following wheat in metric tons for arrival by August
31: 15,350 of western white wheat and 41,760 of semi-hard hard red winter
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022