Portland , OR Weekly Grain Review - Part 1 (Thu)

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JO_GR115
Portland, OR    Thu Aug 7, 2014    USDA Market News

Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary

   Pacific Northwest Market Summary:  Cash wheat bids for August delivery ended the 
reporting week on Thursday, August 7, mixed as follows compared to last week's 
August 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, August 7, higher 
as follows compared to last Thursday's closes:  Chicago 31.25 cents higher at 
5.6150, Kansas City 20.50 cents higher at 6.4625 and Minneapolis wheat futures 
trended 18.50 cents higher at 6.3450.  Chicago September corn futures trended 2.50 
cents higher at 3.5950 while August soybean futures closed 25.50 cents higher at 
12.50.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges 
during August were mixed, from 18.75 lower to 1.50 cents per bushel higher, from 
6.6150-6.9650, mostly 6.8750.  Bids for last Thursday for August delivery were 
6.8025-6.95.  White club wheat premiums for this week were 50 cents to 1.00, mostly 
83 cents and last week were 50 cents to 1.00, mostly 68 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 7.20-7.25, 
mostly 7.23.  Nearby bids for US 1 Soft White wheat began the reporting week on 
Friday at mostly 6.9150 then rose during the week to mostly 6.94 on Monday, and 
mostly 6.9850 on Tuesday, before falling to mostly 6.96 on Wednesday.  Bids ended 
the week today (Thursday), lower at mostly 6.8750.  Some exporters were not issuing 
bids for nearby delivery.  Forward month bids for soft white wheat were as follows:  
September 6.6150-6.98, October 7.01-7.09, November 7.04-7.14 and December 7.07-
7.14.  One year ago, forward month bids for soft white wheat were as follows:  
September 7.20-7.2850, October 7.20-7.3125, November 7.25-7.3125 and December 7.30-
7.3125

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for August delivery 
trended mixed, from 3.50 cents lower to 20.50 cents per bushel higher than week ago 
bids for the same delivery period.  Higher Kansas City September wheat futures, 
however a lower basis bid by some exporters were pressured bids.  Some exporters 
were not issuing bids for nearby delivery.  On Thursday, bids were as follows: 
August 7.4125-7.4225, mostly 7.4125; September 7.3625-7.7975; October, November and 
December 7.6975-7.7975.

   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for 
August Portland delivery trended 18.50 to 33.50 cents per bushel higher than last 
week's bids for August delivery.  Cash bids were supported by the higher 
Minneapolis September spring wheat futures for the week and a higher basis bid by 
some exporters.  Some exporters were not issuing bids for nearby delivery.  On 
Thursday, bids for non-guaranteed 14 percent protein were as follows:  August 
7.9950-8.2950, mostly 8.1450; September 7.7450-8.2950; October, November and 
December 8.1575-8.5575.

   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 August delivery held steady at 
280.00.

   Outstanding Export Sales:  Outstanding U.S. white wheat export sales as of July 
31, 2014 for the marketing year beginning June 1, 2014 and ending May 31, 2015, in 
1000 MT, totaled 1085.4 thousand MT compared to 1022.1 thousand MT one week ago, 
and 1042.5 thousand MT one year ago.  Outstanding white wheat export sales for the 
2014-2015 marketing year were to the following countries in 1000 MT:  South Korea 
195.6, Japan 192.4, Philippines 148.6, Sri Lanka 45.0, Indonesia 32.6, Thailand 
30.0, Nigeria 24.0, China 20.0, El Salvador 15.4, Singapore 15.0, Guatemala 14.9, 
Peru 7.2, Malaysia 5.0, Canada 1.4, Hong Kong 1.1, Burma 1.0, Vietnam 0.3 and total 
unknown 310.2.  Accumulated white wheat export shipments as of July 31, 2014, in 
1000 MT for the 2014-2015 marketing year, totaled 577.1 compared to 417.6 one year 
ago.

   Outstanding U.S. barley export sales as of July 31, 2014 for the marketing year 
beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 8.8 compared to 
8.8 last week and 66.1 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 
5.1, Japan 2.4, South Korea 0.9 and Philippines 0.4.  Accumulated barley export 
shipments as of July 31, 2014 were 16.5 thousand MT compared to 6.2 one year ago.

   Pacific Northwest Export News:  There were 11 grain vessels in Columbia River 
ports on Thursday, August 7, with three docked compared to nine last Thursday with 
four docked.  New confirmed export sales this week were limited to Japan.  Japan 
purchased the following US wheat in metric tons for loading between September 21 
and October 20: 33,480 of semi-hard hard red winter wheat, and 57,775 of minimum 14 
percent protein dark northern spring wheat. Japan also purchased the following US 
wheat in metric tons for arrival by November 30: 15,060 of western white wheat, and 
14,320 of semi-hard hard red winter wheat.

Source:  USDA Market News, Portland, OR
         Niki Davila 503-326-2237 Portland.LPGMN@ams.usda.gov
         24 hour price information 503-326-2022
         http://www.ams.usda.gov/mnreports/jo_gr115.txt
         www.ams.usda.gov/lpsmarketnewspage

1230p  nd

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