Markets

Pacific NW Wheat Basis Report



JO_GR111

Portland, OR    Fri Dec 12, 2014    USDA Market News



Pacific NW Wheat Basis Report:  Morning soft white wheat, hard red

winter wheat and dark northern spring wheat basis for Portland

delivery.



   Bids for grains delivered to Portland, Oregon during December by unit

trains and barges, in dollars per bushel, except oats and corn, in

dollars per cwt.  Bids for soft white wheat are for delivery periods

as specified.  Hard red winter wheat and dark northern spring wheat bids

are for full December delivery.  Bids for corn are for 30 day delivery.



   In early trading March wheat futures trended 11.00 to 14.00 cents per

bushel higher compared to Thursday’s closes.



   Bids for US 1 Soft White Wheat delivered to Portland in unit trains

and barges for December delivery were not fully established in early

trading for both ordinary protein.    Bids for guaranteed 10.5 percent

protein trended lower compared to Thursday’s noon bids.  Several exporters

have removed their basis for nearby delivery.



   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for December

delivery were not fully established in early trading.  Several exporters

are not issuing bids for December through February delivery.



   Bids for 14 percent protein US 1 Dark Northern Spring Wheat for December

delivery were also not fully established in early trading but were

indicated as higher than Thursday’s noon bids.  Higher Minneapolis March

wheat futures were supportive to bids.



   Bids for US 2 Yellow Corn delivered to Portland and the Yakima Valley

were not available.



Bids as of 9:30 a.m. Pacific time; Subject to change



All wheat bids in cents per bushel with changes in cents per bushel

US 1 Soft White Wheat - delivered by Unit Trains and Barges *

  Ordinary protein

    Dec                                      NA

    Jan                                      73.5 to 100      +CH

    Feb                                      78.5 to 100      +CH

    Mar                                      81.5 to 100      +CH

    Apr                                      NA

  Gtd 10.5 pct protein

    Dec              mostly 180.00, ranging  175 to 185       +CH

    Jan                                      170.5 to 185     +CH

    Feb                                      176.5 to 195     +CH

    Mar                                      185.5 to 195     +CH

    Apr                                      NA

_

US 1 White Club Wheat - delivered by Unit Trains and Barges *

  Ordinary protein

    Dec                                      NA

  Gtd 10.5 pct protein

    Dec              mostly 405.00, ranging  375 to 435       +CH

  *Not fully established and limited.

_

US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or

better) *

  Ordinary protein                           NA

  10 pct protein                             NA

  11 pct protein                             NA

  11.5 pct protein

    Dec                                      NA

                                             NA

                                             NA

    Jan                                      NA

                                             NA

                                             NA

    Feb                                      NA

                                             NA

                                             NA

    Mar                                      105 to 125       +KCH

                                             NA

                                             NA

    Apr                                      105 to 125       +KCK

                                             NA

                                             NA

  12 pct protein                             NA

  13 pct protein                             NA

  *Not fully established and limited.

_

US 1 Dark Northern Spring Wheat (with a minimum of 300 falling numbers, a maximum

 of 0.5 part per million vomitoxin, and a maximum of one percent total damage) *

  13 pct protein                             180 to 200       +MNH

  14 pct protein

    Dec                                      300 to 340       +MNH

                                             NA

                                             NA

    Jan                                      300 to 350       +MNH

                                             NA

                                             NA

    Feb                                      300 to 350       +MNH

                                             NA

                                             NA

    Mar                                      300 to 350       +MNH

                                             NA

                                             NA

    Apr                                      NA

                                             NA

                                             NA

 15 pct protein                              380 to 420       +MNH

 16 pct protein                              460 to 500       +MNH

  *Not fully established and limited.



US 2 Yellow Corn in dollars per CWT

  Domestic-single rail cars

  Delivered full coast-BN                    NA

  Delivered to Portland                      NA

  Rail and Truck del to Willamette Vly       NA

  Rail del to Yakima Valley                  NA

  Truck del to Yakima Valley                 NA



Source:     USDA Market News Service, Portland, OR

            Tiffany Smit 503-326-2237  Portland.LPGMN@ams.usda.gov

            24 Hour Market Report  503-326-2022

            www.ams.usda.gov/mnreports/jo_gr111.txt

            www.ams.usda.gov/lpsmarketnewspage



8:50  P ts

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