Portland, OR Thu Jun 26, 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 26, lower as follows compared to last week's June
July wheat futures ended the reporting week on Thursday, June 26, lower as
follows compared to last Thursday's closes: Chicago 11.25 cents lower at 5.8225,
Kansas City 8.25 cents lower at 7.21 and Minneapolis wheat futures trended 24 cents
lower at 6.79. Kansas City September wheat futures trended 12 cents lower at
7.1475. Minneapolis September wheat futures trended 15 cents lower at 6.8675.
Chicago July corn futures trended 7.75 cents lower at 4.4275 while July soybean
futures closed 16.25 cents higher at 14.37.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during June were 6.7225-7.1725, mostly 6.9975. Bids were 1.25 to 11.25 cents per
bushel lower than last Thursday's bids for June delivery of 6.8350-7.1850, mostly
7.0225. White club wheat premiums for this week and last week were 25 to 50 cents,
mostly 37 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 7.0175 before moving slightly
lower to mostly 6.9825 on Monday and continuing to mostly 6.9225 on Tuesday. On
Wednesday, bids moved higher to mostly 6.9525 and end the week today (Thursday), at
mostly 6.9975. Soft white wheat bids followed the Chicago July wheat futures lower
than higher during the reporting week. Chicago July wheat futures were lower
compared to last week. Some exporters were not issuing bids for nearby delivery.
Forward month bids for soft white wheat were as follows: July 6.6225-7.1725,
August New Crop 6.8375-7.0375, September 6.8875-7.0375 and October 7.04-7.09. One
year ago, forward month bids for soft white wheat were as follows: July 7.22,
August New Crop 7.22-7.25, September 7.22-7.30 and October 7.2225-7.35.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for June delivery
trended 12 to 15 cents per bushel lower than last Thursday's noon bids. Lower
Kansas City September wheat futures weighed on bids. Some exporters were not
issuing bids for nearby delivery. On Thursday, bids were as follows: June 8.0475;
July 8.0475-8.0975; August New Crop 8.0475-8.1475; September 8.0475-8.1975 and
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
June Portland delivery trended 4.25 to 16.25 cents per bushel lower than last
Thursday's noon bids. Lower Minneapolis July spring wheat futures for the week
pressured bids, although some exporters raised their basis and tempered advances.
Some exporters were not issuing bids for nearby delivery. On Thursday, bids for
non-guaranteed 14 percent protein were as follows: June 8.2375-8.6675, mostly
8.3875; July 7.9875-8.4675; August New Crop 7.9175-8.3675; September 7.7675-8.3175
and October 8.13-8.43.
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
19, 2014 for the marketing year beginning June 1, 2014 and ending May 31, 2015, in
1000 MT, totaled 940.9 thousand MT compared to 1013.1 thousand MT one week ago, and
1,005.4 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
178.3, South Korea 177.4, Japan 129.5, Sri Lanka 45.0, Thailand 30.6, Guatemala
25.6, Malaysia 20.5, Indonesia 18.0, Taiwan 14.3, El Salvador 12.7, Peru 7.2,
Nigeria 7.1, Hong Kong 1.1, Burma 1.0, Canada 0.7 and total unknown 271.9.
Accumulated white wheat export shipments as of June 19, 2014, in 1000 MT for the
2014-2015 marketing year, totaled 255.7 compared to 54.4 one year ago.
Outstanding U.S. barley export sales as of June 19, 2014 for the marketing year
beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 7.4 compared to
8.8 last week and 26.7 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
3.1, Japan 2.4, South Korea 1.7 and Philippines 0.2. Accumulated barley export
shipments as of June 19, 2014 were 14.6 thousand MT compared to 3.3 one year ago.
Pacific Northwest Export News: There were 12 grain vessels in Columbia River
ports on Thursday, June 26, with four docked compared to the same 12 last Thursday
with four docked. New confirmed export sales this week were limited to Taiwan.
Taiwan purchased the following wheat in metric tons in two consignments August 5-19
and August 22 to September 5. The first consignment included 13,450 of soft white
wheat, 13,080 of 12.5 percent protein hard red winter wheat and 25,500 of 14
percent protein dark northern spring wheat. The second consignment included 17,100
of 12.5 percent protein hard red winter wheat and 27,050 of 14 percent protein dark
northern spring wheat.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022