Portland, OR Thu June 12, 2014 USDA Market News
Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for June delivery ended the
reporting week on Thursday, June 12, mixed as follows compared to last week's June
July wheat futures ended the reporting week on Thursday, June 12, lower as
follows compared to last Thursday's closes: Chicago 20.50 cents lower at 5.8525,
Kansas City 8.50 cents lower at 7.0550 and Minneapolis wheat futures trended 8.50
cents lower at 6.82. Chicago July corn futures trended five cents lower at 4.44
while July soybean futures closed 45.25 cents lower at 14.1525.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during June were 6.7525-7.15, mostly 6.8775. Bids were ten to 20.50 cents per
bushel lower than last Thursday's bids for June delivery of 6.9575-7.25. White
club wheat premiums for this week were slightly lower at 25 to 50 cents, mostly 30
cents per bushel over soft white wheat bids compared to last week which was 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 June delivery were not available. Nearby bids for US 1 Soft White
wheat began the reporting week on Friday at mostly 7.2375 then moved lower to
mostly 7.1825 on Monday. Tuesday saw another drop to mostly 7.1075 and on Wednesday
moved significantly lower to 6.8925. Today (Thursday), bids moved to the weekly
low of 6.8775. Lower Chicago July soft red winter wheat futures throughout most 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: July
6.6525-6.97, August New Crop 6.82-7.12, September 6.84-7.12, and October 6.96-7.15.
One year ago, forward month bids for soft white wheat were as follows: July 7.26-
7.28, August New Crop 7.20-7.30, September 7.21-7.35, and October was 7.2525-7.40.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for June delivery
trended 3.50-8.50 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: June
7.75-7.9050 mostly 7.8350; July 7.75-7.9050; August New Crop 7.7525-8.0525,
September 7.8025-8.0525, and October 7.95-8.10.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
June Portland delivery trended mixed 3.50 cents per bushel lower to 1.50 cents per
bushel higher than last Thursday's noon bids. Lower Minneapolis July spring wheat
futures for the week weighed on cash prices while a higher basis bid by some
exporters provided support. Some exporters were not issuing bids for nearby
delivery. On Thursday, bids for non-guaranteed 14 percent protein were as follows:
June 8.12-8.37, mostly 8.21; July 7.97-8.17; August New Crop 8.00-8.20, September
7.80-8.20, and October 8.1650-8.2650.
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 June delivery were 280.00, steady
with last Thursday's noon bids.
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of June
5, 2014 for the marketing year beginning June 1, 2014 and ending May 31, 2015, in
1000 MT, totaled 1047.4 thousand MT compared to 849.3 thousand MT one week ago, and
850.5 thousand MT one year ago. Outstanding white wheat export sales for the 2014-
2015 marketing year were to the following countries in 1000 MT: Philippines 186.7,
South Korea 154.0, Japan 148.4, Sri Lanka 45.0, Guatemala 36.9, Thailand 31.2,
Malaysia 21.0, Indonesia 18.0, Taiwan 13.5, El Salvador 12.7, Nigeria 7.1, Peru
7.2, Vietnam 6.0, Burma 2.4, Hong Kong 1.1, Canada 0.8 and total unknown 355.4.
Accumulated white wheat export shipments as of June 5, 2014, in 1000 MT for the
2014-2015 marketing year, totaled 31.8 compared to 10.7 one year ago.
Outstanding U.S. barley export sales as of June 5, 2014 for the marketing year
beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 6.5 compared to
5.6 last week and 27.8 one year ago. Outstanding barley export sales for the 2014-
2015 marketing year in 1000 MT were to the following countries in 1000 MT: Taiwan
2.6, Japan 2.4, South Korea 1.3, and Philippines 0.2. Accumulated barley export
shipments as of June 5, 2014 were 13.4 thousand MT compared to 1.0 one year ago.
Pacific Northwest Export News: There were 14 grain vessels in Columbia River
ports on Thursday, June 12, with four docked compared to 15 last Thursday with four
docked. New confirmed export sales this week were limited to Japan. Japan
purchased the following US wheat in metric tons: 24,490 of semi-hard hard red
winter wheat for loading between July 21 and August 20, and 25,940 of western white
wheat for arrival by September 30.
Source: USDA Market News, Portland, OR
Robert Eaton 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022