Portland, OR Thu Jul 31, 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 31, mixed as follows compared to last week's July
bids. Soft white wheat and hard red winter wheat bids trended mixed, while dark
northern spring wheat bids trended higher.
September wheat futures ended the reporting week on Thursday, July 31, mixed as
follows compared to last Thursday's closes: Chicago 1.50 cents higher at 5.3025,
Kansas City 5.25 cents higher at 6.2575 and Minneapolis wheat futures trended 3.75
cents lower at 6.16. Chicago September corn futures trended 4.50 cents lower at
3.57 while August soybean futures closed 17 cents higher at 12.0750.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during July were mixed, from .50 cents lower to 1.50 cents per bushel higher, from
6.3025-6.9825, mostly 6.7850. Bids for last Thursday's for July delivery were
6.2875-6.9875, mostly 6.7150. White club wheat premiums for this week were 50
cents to 1.00, mostly 68 cents and last week were 40 to 65 cents, 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 August
delivery were 7.2425-7.3425, mostly 7.31. Nearby bids for US 1 Soft White wheat
began the reporting week on Friday at mostly 6.7850 then fell to mostly 6.7675 on
Monday continuing lower mostly 6.6950 on Tuesday, before rising to mostly 6.7625 on
Wednesday. Bids ended 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 6.8025-6.95, September 6.8025-6.98,
October 6.8025-7.01 and November 6.8525-7.04. One year ago, forward month bids for
soft white wheat were as follows: September 7.2425-7.3925, October 7.30-7.52,
November and December 7.35-7.52.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for July delivery
trended 5.25 to 10.25 cents per bushel higher. Higher Kansas City September wheat
futures and a higher basis bid by some exporters were supportive to bids. Some
exporters were not issuing bids for nearby delivery. On Thursday, bids were as
follows: July 7.2075-7.3375, mostly 7.3375; August New Crop 7.2075-7.4575;
September 7.3075-7.5575; October 7.54-7.74 and November 7.49-7.74.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
July Portland delivery trended mixed, from 8.75 cents lower to 1.25 cents per
bushel higher than last week's July delivery. Cash bids were pressured by the
lower Minneapolis September spring wheat futures for the week, however a higher
basis bid by some exporters offered support. Some exporters were not issuing bids
for nearby delivery. On Thursday, bids for non-guaranteed 14 percent protein were
as follows: July 7.91-8.11, mostly 7.99; August New Crop 7.66-8.11; September
7.56-8.21; October and November 7.8625-8.4125.
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
24, 2014 for the marketing year beginning June 1, 2014 and ending May 31, 2015, in
1000 MT, totaled 1022.1 thousand MT compared to 1060.4 thousand MT one week ago,
and 1035.7 thousand MT one year ago. Outstanding white wheat export sales for the
2014-2015 marketing year were to the following countries in 1000 MT: Japan 192.4,
South Korea 177.3, Philippines 133.6, Sri Lanka 45.0, Indonesia 32.6, Thailand
30.0, Nigeria 24.0, China 20.0, Singapore 15.0, Guatemala 13.8, Taiwan 13.5, El
Salvador 12.7, Peru 7.2, Malaysia 5.0, Canada 1.2, Hong Kong 1.1, Burma 0.5,
Vietnam 0.3 and total unknown 296.9. Accumulated white wheat export shipments as
of July 24, 2014, in 1000 MT for the 2014-2015 marketing year, totaled 546.2
compared to 368.8 one year ago.
Outstanding U.S. barley export sales as of July 24, 2014 for the marketing year
beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 8.8 compared to
8.3 last week and 46.1 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
5.0, Japan 2.4, South Korea 1.0 and Philippines 0.4. Accumulated barley export
shipments as of July 24, 2014 were 16.1 thousand MT compared to 6.2 one year ago.
Pacific Northwest Export News: There were nine grain vessels in Columbia River
ports on Thursday, July 31, with four docked compared to 12 last Thursday with four
docked. New confirmed export sales this week were limited to Taiwan. Taiwan
purchased 12,250 of 10.5 percent protein soft white wheat, 9,850 of 12.5 percent
protein hard red winter wheat and 19,300 of 14 percent protein dark northern spring
wheat for September 8-22 shipment. Taiwan also purchased 12,750 of 12.5 hard red
winter wheat and 30,650 of 14 percent protein dark northern spring wheat for
September 25 to October 9 shipment.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022