Portland, OR Thu Aug 21, 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 21, higher as follows compared to last week's
September wheat futures ended the reporting week on Thursday, August 21, higher
as follows compared to last Thursday's closes: Chicago nine cents higher at
5.4625, Kansas City 14 cents higher at 6.22 and Minneapolis wheat futures trended
ten cents higher at 6.1575. Chicago September corn futures trended 0.25 of a cent
higher at 3.6225 while September soybean futures closed 60 cents lower at 10.3825.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during August were nine to ten cents per bushel higher, from 6.8625-7.00, mostly
6.9350. Bids for last Thursday for August delivery were 6.7725-6.90, mostly 6.83.
White club wheat premiums for this week were 1.50 to 1.75, mostly 1.58 and last
week were 75 cents to 1.00, mostly 94 cents per bushel over soft white wheat bids.
One year ago bids for US 1 Soft White Wheat delivered by unit trains and barges to
Portland for August delivery were 7.2375-7.3875, mostly 7.34 and white club wheat
was 7.35-7.4375, mostly 7.39. Nearby bids for US 1 Soft White wheat began the
reporting week on Friday at mostly 6.88, dropped to mostly 6.81 on Monday, before
rising to mostly 6.8575 on Tuesday and Wednesday. Today (Thursday), bids jumped to
the weekly high of mostly 6.9350. Some exporters were not issuing bids for nearby
delivery. Forward month bids for soft white wheat were as follows: September
6.8625-7.03, October 6.9050-7.06, November 6.9050-7.09 and December 6.9550-7.12.
One year ago, forward month bids for soft white wheat were as follows: September
7.2875-7.4375, October and November 7.2925-7.4425, and December 7.2925-7.45.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for August delivery
rose by 14 cents per bushel compared to last week's bids. Higher Kansas City
September wheat futures supported bids. On Thursday, bids were as follows: August
7.12-7.27, mostly 7.21; September 7.17-7.37; October, November and December 7.4225-
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
August Portland delivery trended five to 20 cents per bushel higher than last
week's bids. Cash bids were supported by the higher Minneapolis September spring
wheat futures for the week. On Thursday, bids for non-guaranteed 14 percent
protein were as follows: August 7.5575-7.9575, mostly 7.7975; September 7.6575-
7.9575; October 7.93-8.28; November 8.03-8.28 and December 7.98-8.28.
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 were steady at
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of
August 14, 2014 for the marketing year beginning June 1, 2014 and ending May 31,
2015, in 1000 MT, totaled 1023.0 thousand MT compared to 1095.8 thousand MT one
week ago, and 1034.5 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 189.9, Japan 163.6, Philippines 113.6, Sri Lanka 45.0, Indonesia 32.0,
Thailand 30.0, Taiwan 25.7, Nigeria 24.0, China 20.0, Singapore 15.0, Guatemala
12.4, El Salvador 12.1, Malaysia 5.0, Burma 1.5, Canada 1.3, Hong Kong 1.1, Vietnam
0.3 and total unknown 330.5. Accumulated white wheat export shipments as of August
14, 2014, in 1000 MT for the 2014-2015 marketing year, totaled 739.4 compared to
642.4 one year ago.
Outstanding U.S. barley export sales as of August 14, 2014 for the marketing
year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 19.8
compared to 20.0 last week and 45.2 one year ago. Outstanding barley export sales
for the 2014-2015 marketing year in 1000 MT were to the following countries in 1000
MT: Japan 14.4, Taiwan 4.3, South Korea 0.7 and Philippines 0.4. Accumulated
barley export shipments as of August 14, 2014 were 17.6 thousand MT compared to 7.4
one year ago.
Pacific Northwest Export News: There were 15 grain vessels in Columbia River
ports on Thursday, August 21, with three docked compared to 17 last Thursday with
five docked. There were no new confirmed export sales to the Commodity Credit
Corporation (CCC) this week.
Source: USDA Market News, Portland, OR
Niki Davila 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022