June 18, 2013
Portland Price Trends
06-01-12 08-01-12 05-01-13 06-11-13 06-18-13
#1 SWW (bu) 6.65 8.85 7.70 7.42 7.45
White Club 6.65 8.85 7.70 7.42 7.45
HRS 14% 8.82 9.90 9.40 9.25 9.02
HRW 11.5% 7.20 9.43 8.96 8.63 8.24
#2 Corn (ton) 253.00 339.00 290.00 292.00 289.00
#2 Barley 220.00 250.00 238.00 240.00 235.00
Wheat...West coast white wheat markets saw a modest recovery posted in
early week trade, with old crop moving back to a slight premium over new
crop deliveries. The recent price break over possible GMO contamination
has stymied farm selling interest and exporters are working to generate a
movement of remaining old crop bushels. Red wheat basis levels shows old
crop continuing to narrow in on new crop.
Shipments...Weekly export inspections showed an improved week for hard
red spring wheat movement, registering a total of 4.8 mb and loading mostly
off the PNW for China. Soft white recorded 1.5 mb for the week.
Crop Progress...Persistent hot and dry conditions nipped winter wheat
ratings for the PNW crop over the past week. Good to excellent ratings in
Washington slipped 4 more points to 51%, with Oregon also losing 4 points
to 32%. Idaho reported a 2 point decline to 79% while Montana countered
the trend, gaining 6 points to 61%.
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