Portland, OR Thu Jul 10, 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 10, mixed as follows compared to last week's July
bids. Soft white wheat bids were mixed, while hard red winter wheat and dark
northern spring wheat bids trended lower.
September wheat futures ended the reporting week on Thursday, July 10, lower as
follows compared to last Thursday's closes: Chicago 31 cents lower at 5.4850,
Kansas City 40 cents lower at 6.4725 and Minneapolis wheat futures trended 31.50
cents lower at 6.41. Chicago September corn futures trended 23.25 cents lower at
3.8625 while September soybean futures closed 58 cents lower at 13.2975.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during July were mixed, from 9.50 lower to 0.50 of a cent per bushel higher, from
6.4850-7.00, mostly 6.7850. Bids for last Thursday's for July delivery were 6.48-
7.0950, mostly 6.92. White club wheat premiums for this week and last week were 25
cents to 1.00, mostly 50 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 July delivery were 7.29-7.49, mostly 7.3575. Nearby bids
for US 1 Soft White wheat began the holiday shortened reporting week on Monday at
mostly 6.7625, and rose to mostly 6.7925 on Tuesday. On Wednesday, bids fell to
mostly 6.7675 and finished the week today (Thursday), higher at mostly 6.7850.
Some exporters were not issuing bids for nearby delivery. Forward month bids for
soft white wheat were as follows: August New Crop 6.6650-6.9850, September 6.6050-
6.9850, October and November 6.8050-7.20. One year ago, forward month bids for
soft white wheat were as follows: August New Crop and September 7.29-7.49, October
7.2775-7.48 and November 7.3775-7.5275.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for July delivery
trended 40 cents per bushel lower in lining up with the lower Kansas City September
wheat futures. Some exporters were not issuing bids for nearby delivery. On
Thursday, bids were as follows: July 7.3725-7.4725, mostly 7.4225; August New Crop
7.3725-7.4725; September 7.3725-7.5725; October 7.5275-7.75 and November 7.5475-
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
July Portland delivery trended first half July 16.50 to 69.50 cents lower and last
half July 11.50 to 49.50 cents per bushel lower. Lower Minneapolis July spring
wheat futures and lower basis bid by some exporters weighed on bids. Some
exporters were not issuing bids for nearby delivery. On Thursday, bids for non-
guaranteed 14 percent protein were as follows: first half July 7.91-8.41, mostly
8.14; last half July 7.91-8.21, mostly 8.08; August New Crop 7.61-8.01; September
7.51-8.06; October 8.02-8.12 and November 8.02-8.12.
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 held steady at 280.00.
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of July
3, 2014 for the marketing year beginning June 1, 2014 and ending May 31, 2015, in
1000 MT, totaled 988.2 thousand MT compared to 927.6 thousand MT one week ago, and
968.0 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 198.9,
Japan 141.0, Philippines 116.6, Sri Lanka 45.0, Thailand 30.0, Taiwan 27.0,
Guatemala 25.6, Nigeria 24.0, Malaysia 21.0, Indonesia 18.0, El Salvador 12.7, Peru
7.2, Canada 1.1, Hong Kong 1.1, Vietnam 0.3, and total unknown 318.7. Accumulated
white wheat export shipments as of July 3, 2014, in 1000 MT for the 2014-2015
marketing year, totaled 369.7 compared to 204.8 one year ago.
Outstanding U.S. barley export sales as of July 3, 2014 for the marketing year
beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 8.1 compared to
8.0 last week and 26.8 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
4.0, Japan 2.4, South Korea 1.3 and Philippines 0.4. Accumulated barley export
shipments as of July 3, 2014 were 15.8 thousand MT compared to 4.6 one year ago.
Pacific Northwest Export News: There were 12 grain vessels in Columbia River
ports on Thursday, July 10, with three docked compared to 12 last Thursday with
four docked. New confirmed export sales this week were limited to Japan. Japan
purchased 88,200 metric tons of US wheat for September 20 to November 30 shipment.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022