Portland, OR Thu Sep 25, 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 reporting week on Thursday, September 25, mixed as follows compared to last
week's September bids. Soft white wheat bids trended lower, dark northern spring
wheat trended mixed, while hard red winter wheat bids moved higher.
December wheat futures ended the reporting week on Thursday, September 25, lower
as follows compared to last Thursday's closes: Chicago 14.50 cents lower at 4.74,
Kansas City 5.50 cents lower at 5.6425 and Minneapolis wheat futures trended 14
cents lower at 5.3625. Chicago December corn futures trended 12.25 cents lower at
3.26 while November soybean futures closed 48.75 cents lower at 9.2275.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during September were 10.00 to 19.50 cents per bushel lower, from 6.39-6.80, mostly
6.6175. Bids for last Thursday for September delivery were 6.5850-6.90, mostly
6.7150. White club wheat premiums for this week were 2.00 to 2.75, mostly 2.31
while last week's premium was 2.00 to 2.50, mostly 2.17 over soft white wheat bids.
One year ago bids for US 1 Soft White Wheat delivered by unit trains and barges to
Portland for October delivery were 6.95-7.1550, mostly 7.07 and white club wheat
was 7.4050-7.4550, mostly 7.4375. Nearby bids for US 1 Soft White wheat began the
reporting week on Friday at mostly 6.61 before rising higher to mostly 6.650 on
Monday, mostly 6.69 on Tuesday and mostly 6.7175 on Wednesday. Today (Thursday),
the reporting week's end bids moved lower to mostly 6.6175. Some exporters were
not issuing bids for nearby delivery. Forward month bids for soft white wheat were
as follows: October 6.39-6.83, November 6.39-6.86, December 6.39-6.89 and January
6.4775-6.92. One year ago, forward month bids for soft white wheat were as
follows: November and December 6.95-7.2050, January 7.1775-7.2575 and February
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for September delivery
trended from 4.50 to 14.50 cents per bushel higher compared to last week's bids.
Higher basis bids by some exporters were supportive to bids. On Thursday, bids
were as follows: September 6.9425-7.1425, mostly 7.0625; October and November
7.0925-7.1925; December 7.0425-7.1925 and January 6.98-7.23.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
Portland delivery for full September delivery trended mixed, from 24.00 lower to
11.00 cents per bushel higher compared to last week's bids. On Thursday, bids for
non-guaranteed 14 percent protein were as follows: September 7.3625-8.8625, mostly
8.0325; October, November, and December 7.6625-8.8625 and January 7.8175-8.4675.
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 18, 2014 for the marketing year beginning June 1, 2014 and ending May 31,
2015, in 1000 MT, totaled 723.2 thousand MT compared to 764.9 thousand MT one week
ago, and 908.0 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 180.5, Japan 146.7, Philippines 102.5, Taiwan 25.7, Nigeria 24.0, China
20.0, Singapore 15.0, Guatemala 8.9, El Salvador 8.3, Malaysia 2.1, Canada 1.5,
Burma 1.4, Hong Kong 1.1 and total unknown 185.5. Accumulated white wheat export
shipments as of September 18, 2014, in 1000 MT for the 2014-2015 marketing year,
totaled 1351.2 compared to 1279.8 one year ago.
Outstanding U.S. barley export sales as of September 18, 2014 for the marketing
year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 58.8
compared to 59.3 last week and 51.4 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 1.7, Philippines 0.4, South Korea 0.3 and total unknown
25.0. Accumulated barley export shipments as of September 18, 2014 were 23.0
thousand MT compared to 52.0 one year ago.
Pacific Northwest Export News: There were 15 grain vessels in Columbia River
ports on Thursday, September 25, with four docked compared to 13 last Thursday with
three docked. There were no new confirmed export sales from the Commodity Credit
Corporation (CCC) this week.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022