Portland, OR Thu Nov 20, 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, November 20, mixed compared to last week's November
December wheat futures ended the reporting week on Thursday, November 20, mixed
as follows compared to last Thursday's closes: Chicago 6.50 cents lower at 5.4725,
Kansas City 3.00 cents lower at 6.0225 and Minneapolis wheat futures trended 0.25
of a cent higher at 5.8450. Chicago December corn futures trended 13 cents lower
at 3.7325 while January soybean futures closed 25.50 cents lower at 10.28.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during November were 3.00 to 26.50 cents per bushel lower, from 6.75-7.2725, mostly
6.9925. Bids for last Thursday for November delivery were 6.78-7.5375, mostly
7.11. White club wheat premiums for this week were 2.00 to 2.75, mostly 2.46 while
last week's premiums were also 2.00 to 2.75, mostly 2.46 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 7.0525-7.0725, mostly 7.0625 and bids for White
Club Wheat were 7.0525-7.5725, mostly 7.3125. Nearby bids for US 1 Soft White
wheat began the reporting week on Friday at mostly 7.0975 then fell each day to
mostly 7.0475 on Monday, mostly 7.0150 on Tuesday and mostly 6.9250 on Wednesday.
Today (Thursday), the bids moved slightly higher to mostly 6.9925. Forward month
bids for soft white wheat were as follows: December 6.75-7.3725, January 6.80-
7.4750, February and March were 6.80-7.5250. One year ago, forward month bids for
soft white wheat were December 7.0525-7.1725, January 7.1550-7.2550, February
7.2050-7.32 and March 7.24-7.32.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for November delivery
trended 3.00 to 8.00 cents per bushel lower compared to last week's bids for
November delivery. Lower Kansas City December wheat futures pressured cash bids
during the week. On Thursday, bids were as follows: November 7.3725-7.5725,
mostly 7.4525; December 7.3725-7.5725; January 7.3625-7.6125, February and March
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
Portland delivery for November delivery trended 0.25 of a cent to 20.25 cents per
bushel higher compared to last week's bids for the same time period. Bids were
supported by the fractionally higher Minneapolis December wheat futures and a
higher basis bid by some exporters during the week. On Thursday, bids for non-
guaranteed 14 percent protein were as follows: November 9.2450-9.6450, mostly
9.4850; December 9.2450-9.6450; January, February and March 9.2150-9.6650.
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
November 13, 2014 for the marketing year beginning June 1, 2014 and ending May 31,
2015, in 1000 MT, totaled 988.4 thousand MT compared to 891.4 thousand MT one week
ago, and 965.0 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 225.7, Philippines 168.3, Japan 140.3, Yemen 95.0, Nigeria 24.0, Taiwan 21.4,
El Salvador 21.1, China 20.0, Guatemala 17.6, Venezuela 10.0, Peru 5.0, Malaysia
1.0, Canada 0.9, Sri Lanka 0.6, Hong Kong 0.3, Burma 0.1, and total unknown 237.1.
Accumulated white wheat export shipments as of November 13, 2014, in 1000 MT for
the 2014-2015 marketing year, totaled 1748.8 compared to 2005.4 one year ago.
Outstanding U.S. barley export sales as of November 13, 2014 for the marketing
year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 38.5
compared to 34.2 last week and 50.9 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 35.5, Taiwan 1.4, South Korea 1.4, and Philippines 0.2. Accumulated
barley export shipments as of November 13, 2014 were 53.1 thousand MT compared to
63.5 one year ago.
Pacific Northwest Export News: There were 14 grain vessels in Columbia River
ports on Thursday, November 20, with six docked compared to 18 last Thursday with
six docked. There were no new confirmed export sales from the Commodity Credit
Corporation (CCC) this week.
Source: USDA Market News, Portland, OR
Niki Davila 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022