Portland, OR Thu Oct 9, 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 9, mixed but mostly higher as follows
compared to last week's October bids. Hard red winter wheat and dark northern
spring wheat bids trended higher, while bids for soft white wheat bids trended
December wheat futures ended the reporting week on Thursday, October 9, higher
as follows compared to last Thursday's closes: Chicago 10.50 cents higher at
4.9.25, Kansas City 11.25 cents higher at 5.7275 and Minneapolis wheat futures
trended 18 higher at 5.5350. Chicago December corn futures trended 22 cents higher
at 3.4475 while November soybean futures closed 17.50 cents higher at 9.42.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during October were mixed from 1.50 cents lower to 10.25 cents per bushel higher,
from 6.5125-6.7325, mostly 6.59. Bids for last Thursday for October delivery were
6.5275-6.63, mostly 6.59. White club wheat premiums for this week were 2.00 to
2.75, mostly 2.48 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 and White Club 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 6.6125 and rose
during the week to mostly 6.6350 on Monday, mostly 6.6750 on Tuesday and mostly
6.71 on Wednesday before dropping to the weekly low of mostly 6.59 today
(Thursday). Several exporters lowered their bids during the week which pressured
bids lower. Forward month bids for soft white wheat were as follows: November and
December 6.5125-6.7825, January 6.5525-6.8525 and February 6.5525-6.6325. 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 1.25 to 21.25 cents per bushel higher compared to last week's bids. A
higher basis bids by some exporters and higher weekly Kansas City December wheat
futures were supportive to bids. On Thursday, bids were as follows: October
7.1275-7.3775, mostly 7.2675; November and December 7.1275-7.4275; January and
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
Portland delivery for full October delivery trended 18 cents to instances of 1.28
per bushel higher compared to last week's bids. On Thursday, bids for non-
guaranteed 14 percent protein were as follows: October 8.9350-9.0350, mostly
8.9950; November and December 8.9350-9.0350; January and February 8.66-9.06.
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 held steady at
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of
October 2, 2014 for the marketing year beginning June 1, 2014 and ending May 31,
2015, in 1000 MT, totaled 789.6 thousand MT compared to 782.3 thousand MT one week
ago, and 859.8 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 187.3, Philippines 143.4, Japan 112.9, Taiwan 26.6, Nigeria 24.0, China
20.0, El Salvador 16.8, Singapore 15.0, Guatemala 13.5, Malaysia 8.4, Vietnam 3.0,
Sri Lanka 1.5, Canada 1.4, Hong Kong 0.8, Burma 0.4, and total unknown 214.6.
Accumulated white wheat export shipments as of October 2, 2014, in 1000 MT for the
2014-2015 marketing year, totaled 1437.0 compared to 1534.5 one year ago.
Outstanding U.S. barley export sales as of October 2, 2014 for the marketing
year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 63.3
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, China 30.0, Taiwan 1.4, Philippines 0.4 and South Korea 0.1.
Accumulated barley export shipments as of October 2, 2014 were 51.5 thousand MT
compared to 52.3 one year ago.
Pacific Northwest Export News: There were 14 grain vessels in Columbia River
ports on Thursday, October 9, with five docked compared to 14 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