Portland, OR Thu Sep 18, 2014 USDA Market News
Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for September delivery ended
the holiday shortened reporting week on Thursday, September 18 lower overall as
follows compared to last week's September bids.
December wheat futures ended the holiday shortened reporting week on Thursday,
September 18, lower as follows compared to last Thursday's closes: Chicago 21.00
cents lower at 4.8850, Kansas City 36.50 cents lower at 5.6975 and Minneapolis
wheat futures trended 42.50 cents lower at 5.5025. Chicago December corn futures
trended 2.75 cents lower at 3.3825 while November soybean futures closed 10.00
cents lower at 9.7150.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during September were 1.00 to 10.00 cents per bushel lower, from 6.5850-6.90,
mostly 6.7150. Bids for last Thursday for September delivery were 6.5950-7.00,
mostly 6.7225. White club wheat premiums for this week were 2.00 to 2.75, mostly
2.31 while last week's premium was 1.75 to 2.75, mostly 2.25 over soft white wheat
bids. One year ago bids for US 1 Soft White Wheat delivered by unit trains and
barges to Portland for September delivery were 7.02-7.07, mostly 7.0450 and white
club wheat was 7.32-7.37, mostly 7.3450. Nearby bids for US 1 Soft White wheat
began the reporting week on Friday at mostly 6.7325 then moved marginally higher to
the weekly high on Monday of mostly 6.7425 before moving slightly lower on Tuesday
to mostly 6.7350, continuing lower on Wednesday to the weekly low of mostly 6.6925.
Today (Thursday), bids rose marginally to mostly 6.7150. Some exporters were not
issuing bids for nearby delivery. Forward month bids for soft white wheat were as
follows: October 6.4850-6.93, November 6.5350-6.96, December 6.5350-6.99 and
January 6.5575-7.02. One year ago, forward month bids for soft white wheat were as
follows: October, November, and December 6.95-7.07 and January 7.0750-7.1250.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for September delivery
trended from 26.50 to 36.50 cents per bushel lower compared to last week's bids.
Lower Kansas City December wheat futures pressured cash bids, however a higher
basis bid by some exporters tempered the decline. On Thursday, bids were as
follows: September 6.7975-7.0975, mostly 6.9675; October 6.9475-7.1975; November
6.9475-7.1475; December 6.9475-7.0975 and January 7.0225-7.1725.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
Portland delivery for full September delivery trended 42.50 to 52.50 cents per
bushel lower compared to last week's bids. Cash bids were supported by the higher
basis bid by some exporters for the week. On Thursday, bids for non-guaranteed 14
percent protein were as follows: September 7.6025-8.7525, mostly 8.2825; October,
November, and December 7.9025-8.7525 and January 8.07-8.42.
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 September delivery held steady at
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of
September 11, 2014 for the marketing year beginning June 1, 2014 and ending May 31,
2015, in 1000 MT, totaled 764.9 thousand MT compared to 1008.6 thousand MT one week
ago, and 931.9 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 180.5, Japan 118.6, Philippines 114.5, Taiwan 25.7, Nigeria 24.0, China
20.0, Thailand 20.0, Singapore 15.0, Malaysia 11.6, Guatemala 8.9, El Salvador 8.3,
Burma 2.0, Hong Kong 1.4, Canada 1.4, and total unknown 213.0. Accumulated white
wheat export shipments as of September 11, 2014, in 1000 MT for the 2014-2015
marketing year, totaled 1276.6 compared to 1108.0 one year ago.
Outstanding U.S. barley export sales as of September 11, 2014 for the marketing
year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 59.3
compared to 17.5 last week and 6.6 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 31.4, Taiwan 2.2, Philippines 0.4, South Korea 0.3 and total unknown
25.0. Accumulated barley export shipments as of September 11, 2014 were 22.5
thousand MT compared to 51.7 one year ago.
Pacific Northwest Export News: There were 13 grain vessels in Columbia River
ports on Thursday, September 18, with three docked compared to nine last Thursday
with two docked. There were no new confirmed export sales from the Commodity
Credit Corporation (CCC) 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