Portland, OR Thu Jul 3, 2014 USDA Market News
Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for July delivery ended the
reporting week on Thursday, July 3, mixed as follows compared to last week's July
bids. Soft white wheat and hard red winter wheat were lower, while dark northern
spring wheat trended mixed, mostly higher.
July wheat futures ended the reporting week on Thursday, July 3, lower as
follows compared to last Thursday's closes: Chicago 14.25 cents lower at 5.68,
Kansas City 24 cents lower at 6.97 and Minneapolis wheat futures trended 18.25
cents lower at 6.6075. Chicago September wheat futures trended 4.25 cents lower to
5.7950. Kansas City September wheat futures trended 27.50 cents lower at 6.8725.
Minneapolis September wheat futures trended 14.25 cents lower at 6.7250. Chicago
September corn futures trended 29.50 cents lower at 4.0950 while September soybean
futures closed 49.25 cents lower at 13.8775.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during July were 6.48-7.0950, mostly 6.92. Bids were 7.75 to 14.25 cents per
bushel lower than last Thursday's bids for July delivery of 6.6225-7.1725. White
club wheat premiums for this week were 25 cents to 1.00, mostly 50 cents per bushel
over soft white wheat bids compared to last week of 25 to 50 cents, mostly 37 cents
per bushel. One year ago bids for US 1 Soft White Wheat and white club wheat
delivered by unit trains and barges to Portland for July delivery were 7.10-7.30,
mostly 7.1825. Nearby bids for US 1 Soft White wheat began the reporting week on
Friday at mostly 6.9275 then dropped lower to mostly 6.8250 on Monday and then
higher to mostly 6.8650 on Tuesday. On Wednesday, bids moved higher to mostly
6.8875 and finished the week today (Thursday), higher at mostly 6.92. Some
exporters were not issuing bids for nearby delivery. Forward month bids for soft
white wheat were as follows: August New Crop 6.80-7.0450, September 6.8950-7.0950,
October and November 7.0375-7.1375. One year ago, forward month bids for soft
white wheat were as follows: August New Crop and September 7.10-7.30, October
7.1250-7.3250 and November 7.2250-7.3750.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for July delivery
trended 27.50 to 22.50 cents per bushel lower than last Thursday's noon bids for
July delivery. Lower Kansas City September wheat futures weighed on bids. Some
exporters were not issuing bids for nearby delivery. On Thursday, bids were as
follows: July 7.7725-7.8725, mostly 7.8125; August New Crop 7.7725-7.9225;
September 7.7725-7.9725; October 7.92-8.12 and November 7.94-8.12.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
July Portland delivery trended July 3-10 13.75 to 63.75 cents higher; July 11-20
8.75 to 23.75 cents higher and July 21-31 mixed, from 6.25 cents lower to 3.75
cents per bushel higher than last Thursday's noon bids for July delivery. 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: July 3-10 8.1250-9.1050, mostly 8.5550; July 11-20
8.0750-8.7050, mostly 8.3750; July 21-31 8.0250-8.4050, mostly 8.2050; August New
Crop 7.8750-8.2250; September 7.8250-8.2750; October 7.9725-8.3225 and November
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 July delivery were 280.00, steady
with last Thursday's noon bids.
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of June
26, 2014 for the marketing year beginning June 1, 2014 and ending May 31, 2015, in
1000 MT, totaled 927.6 thousand MT compared to 940.9 thousand MT one week ago, and
1,029.6 thousand MT one year ago. Outstanding white wheat export sales for the
2014-2015 marketing year were to the following countries in 1000 MT: South Korea
177.9, Japan 141.0, Philippines 136.6, Sri Lanka 45.0, Thailand 30.1, Taiwan 27.0,
Guatemala 25.6, Malaysia 20.0, Indonesia 18.0, El Salvador 12.7, Peru 7.2, Hong
Kong 1.1, Burma 1.0, Canada 0.7 and total unknown 283.7. Accumulated white wheat
export shipments as of June 26, 2014, in 1000 MT for the 2014-2015 marketing year,
totaled 321.0 compared to 76.5 one year ago.
Outstanding U.S. barley export sales as of June 26, 2014 for the marketing year
beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 8.0 compared to
7.4 last week and 25.9 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
4.1, Japan 2.4, South Korea 1.3 and Philippines 0.2. Accumulated barley export
shipments as of June 26, 2014 were 15.2 thousand MT compared to 4.5 one year ago.
Pacific Northwest Export News: There were 11 grain vessels in Columbia River
ports on Thursday, July 3, with five docked compared to 12 last Thursday with four
docked. There were no new confirmed export sales this week.
Source: USDA Market News, Portland, OR
Robert Eaton 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022