Portland, OR Thu Oct 30, 2014 USDA Market News
Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for November delivery ended
the reporting week on Thursday, October 30, mixed compared to last week?s November
bids. Soft white wheat bids trended mixed, while hard red winter wheat moved lower
and dark northern spring wheat bids moved higher.
December wheat futures ended the reporting week on Thursday, October 30, mixed
as follows compared to last Thursday's closes: Chicago 9.25 cents higher at 5.36,
Kansas City 3.25 cents lower at 5.2675 and Minneapolis wheat futures trended 6.75
cents higher at 5.7775. Chicago December corn futures trended 14.25 cents higher
at 3.74 while November soybean futures closed 31 cents higher at 10.2425.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during November were mixed, from 10.75 lower to 2.00 cents per bushel higher, from
6.81-7.01, mostly 6.89. Bids for last Thursday for November delivery were 6.79-
7.1175. White club wheat premiums for this week were 2.00 to 2.75, mostly 2.46
while last week?s premium was 2.00 to 2.75, mostly 2.42 over soft white wheat bids.
One year ago bids for US 1 Soft White Wheat for October delivered by unit trains
and barges to Portland were 7.08-7.15, mostly 7.1150 and White Club Wheat were
7.55-7.58, mostly 7.5650. Nearby bids for US 1 Soft White wheat began the
reporting week on Friday at mostly 6.8450 and rose to mostly 6.8950 on Monday, to
mostly 6.9750 on Tuesday and to the weekly high of mostly 7.0150 on Wednesday due
to the higher Chicago December wheat futures. Today (Thursday), the bids moved
lower in response to the lower Chicago December wheat futures to mostly 6.89.
Forward month bids for soft white wheat were as follows: December 6.83-7.01,
January, February and March were 6.90-6.99. One year ago, forward month bids for
soft white wheat were November 7.13-7.20, December 7.13-7.25, January 7.2650-7.35
and February 7.3150-7.3650.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for November delivery
trended 3.25 to 8.25 cents per bushel lower compared to last week?s bids for
November delivery. Lower Kansas City December wheat futures and a lower basis bid
by some exporters weighed on bids during the week. On Thursday, bids were as
follows: November 7.47-7.62, mostly 7.55; December 7.47-7.62; January and February
7.52725-7.6725; and March delivery were 7.6225-7.6725.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
Portland delivery for November delivery trended 6.75 cents per bushel higher
compared to last week?s bids for the same time period. Bids lined up with the
higher Minneapolis Decembers wheat futures for the week. On Thursday, bids for
non-guaranteed 14 percent protein were as follows: November 9.1775-9.2775, mostly
9.2275; December 9.1775-9.2775; January and February 9.1875-9.3375; and March bids
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 November delivery held steady at
Outstanding Export Sales: Outstanding U.S. white wheat export sales as of
October 23, 2014 for the marketing year beginning June 1, 2014 and ending May 31,
2015, in 1000 MT, totaled 794.4 thousand MT compared to 737.3 thousand MT one week
ago, and 956.5 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 207.4, Philippines 139.2, Japan 134.4, Yemen 50.0, Nigeria 24.0, China 20.0,
El Salvador 16.8, Singapore 15.0, Guatemala 13.5, Taiwan 13.2, Venezuela 10.0, Sri
Lanka 1.5, Canada 1.1, Malaysia 1.1, Hong Kong 0.3, Burma 0.1, and total unknown
146.8. Accumulated white wheat export shipments as of October 23, 2014, in 1000 MT
for the 2014-2015 marketing year, totaled 1645.7 compared to 1789.9 one year ago.
Outstanding U.S. barley export sales as of October 23, 2014 for the marketing
year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 34.3
compared to 34.4 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 31.5, South Korea 1.4, Taiwan 1.2 and Philippines 0.2. Accumulated
barley export shipments as of October 23, 2014 were 52.1 thousand MT compared to
62.7 one year ago.
Pacific Northwest Export News: There were 14 grain vessels in Columbia River
ports on Thursday, October 30, with five docked compared to 15 last Thursday with
five 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