Portland, OR Thu May 29, 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 29, lower compared to last week's May bids.
July wheat futures ended the reporting week on Thursday, May 29, lower as
follows compared to last Thursday's closes: Chicago 26.75 cents lower at 6.3250,
Kansas City 21.25 cents lower at 7.3050 and Minneapolis wheat futures trended 16.50
cents lower at 7.1450. Chicago July corn futures trended 7.25 cents lower at
4.6950 while July soybean futures closed 19.75 cents lower at 14.99.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during May were 6.9750-7.40, mostly 7.20. Bids were 10 to 26.75 cents per bushel
lower than last Thursday's bids for May delivery of 7.2425-7.50, mostly 7.3450.
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 7.65-7.8775, mostly 7.7650. Nearby bids for US 1 Soft White
wheat began the holiday shortened reporting week on Friday at mostly 7.2925 then
moved lower to mostly 7.24 on Tuesday and on Wednesday moved slightly higher to
mostly 7.2425. Today (Thursday), bids moved to the weekly low of mostly 7.20.
Lower Chicago July soft red winter wheat futures each day of the week pressured
soft white wheat bids. Some exporters were not issuing bids for nearby delivery.
Forward month bids for soft white wheat were as follows: June 7.0750-7.40, July
6.9050-7.1250, August New Crop 6.9950-7.1250 and September 7.0450-7.1250. One year
ago, forward month bids for soft white wheat were as follows: June 7.75-7.9275,
July 7.6775-7.8775, August New Crop and September were 7.6625-7.7625.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for May delivery
trended 21.25 cents per bushel lower than last Thursday's noon bids in lining up
with the lower Kansas City July wheat futures for the week. Some exporters were
not issuing bids for nearby delivery. On Thursday, bids were as follows: May
8.0050-8.1050, mostly 8.0550; June 8.0050-8.2050; July 7.9550-8.1050; August New
Crop 7.9825-8.0825 and September 8.0325-8.1325
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
May Portland delivery trended 11.50 to 16.50 cents per bushel lower than last
Thursday's noon bids. Lower Minneapolis July spring wheat futures weighed on bids,
although some exporters raised their basis which tempered the declines. Some
exporters were not issuing bids for nearby delivery. On Thursday, bids for non-
guaranteed 14 percent protein were as follows: May 8.3950-8.5450, mostly 8.4750;
June 8.2950-8.5450; July 8.1450-8.4450; August New Crop 8.1750-8.4250 and September
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 and barley export sales
as of May 22, 2014 will not be available until Friday, May 30, 2014 due to the
Pacific Northwest Export News: There were 12 grain vessels in Columbia River
ports on Thursday, May 29, with four docked compared to six last Thursday with four
docked. New confirmed export sales this week were limited to Japan. Japan
purchased the following US wheat in metric tons: 14,600 of western white wheat and
10,190 of semi-hard hard red winter wheat for loading between June 21 and July 20.
Japan also purchased 25,665 metric tons of minimum 14 percent protein dark northern
spring wheat for loading between July 21 to August 20 and 24,090 of semi-hard hard
red winter wheat for arrival by August 31.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022