Portland, OR Thu May 22, 2014 USDA Market News
Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for May delivery ended the
reporting week on Thursday, May 22, lower compared to last week's May bids.
July wheat futures ended the reporting week on Thursday, May 22, lower as
follows compared to last Thursday's closes: Chicago 19 cents lower at 6.5925,
Kansas City 27 cents lower at 7.5175 and Minneapolis wheat futures trended 24 cents
lower at 7.31. Chicago July corn futures trended 7.50 cents lower at 4.7675 while
July soybean futures closed 48.50 cents higher at 15.1875.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during May were 7.2425-7.50, mostly 7.3450. Bids were 19 to 20 cents per bushel
lower than last Thursday's bids for May delivery of 7.4325-7.70, mostly 7.5550.
White club wheat premiums for this week and last week were 30 to 50 cents, mostly
45 cents per bushel over soft white wheat bids. One year ago bids for US 1 Soft
White Wheat and white club wheat delivered by unit trains and barges to Portland
for May delivery were 7.70-7.7850, mostly 7.7575. Nearby bids for US 1 Soft White
wheat began the reporting week on Friday at mostly 7.4950 then moved fractionally
higher to mostly 7.4975 on Monday. On Tuesday, bids were mostly 7.42 continuing
lower to mostly 7.3775 on Wednesday. Today (Thursday), bids moved to the weekly
low of mostly 7.3450. Lower Chicago July soft red winter wheat futures for the
week weighed on soft white wheat bids. Forward month bids for soft white wheat
were as follows: June 7.2425-7.50, July 7.0925-7.35, August New Crop 7.17-7.35 and
September 7.22-7.35. One year ago, forward month bids for soft white wheat were as
follows: June 7.7850-7.8350, July 7.4575-7.7850, August New Crop 7.42-7.6075 and
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for May delivery
trended 27 to 32 cents per bushel lower than last Thursday's noon bids. Bids were
pressured by lower Kansas City July wheat futures for the week and a lower basis
bid by some exporters. Some exporters were not issuing bids for nearby delivery.
On Thursday, bids were as follows: May 8.2175-8.3175, mostly 8.2675; June 8.2175-
8.4175; July 8.1675-8.3175; August New Crop 8.19-8.29 and September 8.24-8.34.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
May Portland delivery trended 24 to 29 cents per bushel lower than last Thursday's
noon bids. Lower Minneapolis July spring wheat futures and a lower basis bid by
some exporters pressured bids during the week. Some exporters were not issuing
bids for nearby delivery. On Thursday, bids for non-guaranteed 14 percent protein
were as follows: May 8.56-8.66, mostly 8.63; June 8.46-8.61; July 8.31-8.56;
August New Crop 8.3275-8.5775 and September 8.2775-8.5275.
Coarse feeding grains: Bids for US 2 Yellow Corn delivered to Portland in
single rail cars were not available. Bids for US 2 Yellow Corn truck delivered to
the inland feeding areas of Yakima, Washington, and Hermiston, Oregon were also not
available. Bids for US 2 Heavy White Oats for May delivery were 280.00, steady
with last Thursday's noon bids.
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of May
15, 2014 for the marketing year beginning June 1, 2013 and ending May 31, 2014,
totaled 466.1 thousand MT compared to 525.6 thousand MT on May 8, 2014, and 155.2
thousand MT one year ago. Outstanding white wheat export sales for the 2013-2014
marketing year were to the following countries in 1000 MT: Japan 113.9, South
Korea 105.7, Philippines 71.6, Indonesia 55.0, Thailand 20.0, Taiwan 13.5,
Guatemala 11.3, Nigeria 7.1, Burma 1.0, Malaysia 0.8, Canada 0.7, Hong Kong 0.5 and
total unknown 65.0. Accumulated white wheat export shipments as of May 15, 2014,
in 1000 MT for the 2013-2014 marketing year, totaled 4,111.1 compared to 4,481.9
one year ago. Outstanding U.S. white wheat export sales for the marketing year
beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 685.2 and were
to the following countries: Philippines 114.6, South Korea 99.6, Japan 35.8,
Guatemala 25.6, Malaysia 20.0, Taiwan 13.6, El Salvador 12.7, Vietnam 6.0, Peru
5.0, Thailand 1.2, Hong Kong 0.8, Burma 0.5 and total unknown 349.8.
Outstanding U.S. barley export sales as of May 15, 2014 for the marketing year
beginning June 1, 2013 and ending May 31, 2014, in 1000 MT, totaled 4.5 compared to
10.6 on May 8, 2014 and 4.1 one year ago. Outstanding barley export sales for the
2013-2014 marketing year in 1000 MT were to the following countries in 1000 MT:
Japan 2.9, South Korea 1.2 and Taiwan 0.4. Accumulated barley export shipments as
of May 8, 2014 were 172.7 thousand MT compared to 131.7 one year ago. Outstanding
U.S. barley export sales for the marketing year beginning June 1, 2014 and ending
May 31, 2015, in 1000 MT, totaled 3.6 and were to the following countries: Japan
2.4, Taiwan 1.0 and Philippines 0.2.
Pacific Northwest Export News: There were six grain vessels in Columbia River
ports on Thursday, May 22, with four docked compared to seven last Thursday with
two docked. New confirmed export sales this week were limited to Japan. Japan
purchased the following US wheat in metric tons: 25,890 of western white wheat for
loading between June 21 and July 20 and 22,453 of minimum 14 percent protein dark
northern spring wheat for arrival by September 30.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022