Portland, OR Thu Oct 2, 2014 USDA Market News
Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for October delivery ended
the reporting week on Thursday, October 2, mixed as follows compared to last week's
October bids. Soft white wheat bids trended mixed, dark northern spring wheat
trended mixed, while hard red winter wheat bids moved slightly lower.
December wheat futures ended the reporting week on Thursday, October 2, mixed as
follows compared to last Thursday's closes: Chicago 8.75 cents higher at 4.8275,
Kansas City 2.75 cents lower at 5.6150 and Minneapolis wheat futures trended .75 of
a cent lower at 5.3550. Chicago December corn futures trended 3.25 cents lower at
3.2275 while November soybean futures closed 1.75 cents higher at 9.2450.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during October were mixed, 17.00 cents per bushel lower to 13.75 cents per bushel
higher, from 6.5275-6.63, mostly 6.59. Bids for last Thursday for October delivery
were 6.39-6.83. 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 2.75, mostly 2.31 over soft white wheat
bids. One year ago bids for US 1 Soft White Wheat delivered by unit trains and
barges to Portland are not available. Nearby bids for US 1 Soft White wheat began
the reporting week on Friday at mostly 6.5450 before rising to the weekly high of
mostly 6.6425 on Monday, then moving lower to mostly 6.54 on Tuesday and up to
mostly 6.5625 on Wednesday. Today (Thursday), the reporting week's end bids moved
higher to mostly 6.59. Some exporters were not issuing bids for nearby delivery.
Forward month bids for soft white wheat were as follows: November 6.5275-6.6775,
December 6.5275-6.69, January 6.61-6.72, and February 6.61-6.76. One year ago,
forward month bids for soft white wheat were not available.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for October delivery
trended mixed from 2.75 cents per bushel lower to 2.25 cents per bushel higher
compared to last week's bids. A higher basis bids by some exporters were
supportive to bids. On Thursday, bids were as follows: October 7.1150-7.1650,
mostly 7.1150; November 7.1150-7.1650; December 7.0150-7.1650; January 6.9375-
7.1875 and February 7.0875-7.1875.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
Portland delivery for full October delivery trended .75 of a cent per bushel lower
compared to last week's bids. On Thursday, bids for non-guaranteed 14 percent
protein were as follows:; October 7.6550-8.8550, mostly 8.3450, November and
December 7.6550-8.8550; January 7.8075-8.4575 and February 7.8075-8.5075.
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 October delivery trended 15.00 per
ton lower at 265.00.
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of
September 25, 2014 for the marketing year beginning June 1, 2014 and ending May 31,
2015, in 1000 MT, totaled 782.3 thousand MT compared to 723.2 thousand MT one week
ago, and 924.6 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 187.4, Japan 132.4, Philippines 112.4, Nigeria 24.0, El Salvador 21.0, China
20.0, Guatemala 16.8, Singapore 15.0, Taiwan 13.4, Malaysia 9.1, Vietnam 3.0,
Canada 1.6, Sir Lanka 1.5, Burma 1.4, Hong Kong 1.1 and total unknown 222.2.
Accumulated white wheat export shipments as of September 25, 2014, in 1000 MT for
the 2014-2015 marketing year, totaled 1380.0 compared to 1393.0 one year ago.
Outstanding U.S. barley export sales as of September 25, 2014 for the marketing
year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 58.8
compared to 58.8 last week and 51.1 one year ago. Outstanding barley export sales
for the 2014-2015 marketing year in 1000 MT were to the following countries in 1000
MT: Japan 31.4, Morocco 25.0, Taiwan 1.9, Philippines 0.4 and South Korea 0.1.
Accumulated barley export shipments as of September 25, 2014 were 23.4 thousand MT
compared to 52.2 one year ago.
Pacific Northwest Export News: There were 14 grain vessels in Columbia River
ports on Thursday, October 2, with four docked compared to 15 last Thursday with
four 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