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USDA-JO: Pacific NW Wheat Basis Report

Portland, OR - Wed Feb 14, 2018 - USDA Market News


Pacific NW Basis Report:  Morning soft white wheat, hard red
winter wheat, dark northern spring wheat, corn and soybean basis
for Portland delivery.  All bids in cents per bushel.
Bids are limited and not fully established in early trading.

   Bids for grains delivered to Portland, Oregon in dollars per bushel.

   In early trading March wheat futures trended mixed, from 4.25 cents
lower to 1.75 cents per bushel higher than Tuesday’s closes, with the
greatest decline in Chicago soft red wheat and the advance in Minneapolis
dark northern spring wheat.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains and
barges for February delivery for ordinary protein were not well tested in
early trading, but bids were indicated as steady to higher compared to
Tuesday’s noon bids for the same delivery period.  Some exporters were not
issuing bids for nearby delivery.  Bids for guaranteed maximum 10.5 percent
protein were well tested in early trading, but bids were indicated as mixed
compared to Tuesday’s noon bids for the same delivery period.  Some
exporters were not issuing bids for nearby delivery.

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for February
delivery were not well tested in early trading but bids were indicated as
mixed compared to Tuesday’s bids for the same delivery period.  Some
exporters were not issuing bids for nearby delivery.

   Bids for 14 percent protein US 1 Dark Northern Spring Wheat for February
delivery were not well tested in early trading but bids were indicated as
higher compared to Tuesday’s noon bids for the same delivery period.  Some
exporters are not issuing bids for nearby delivery.

   Bids for US 2 Yellow Corn delivered full coast in 110 car shuttle trains
during February were not well tested in early trading, but bids were
indicated as higher compared to Tuesday’s noon bids for the same delivery
period.  Some exporters were not issuing bids for nearby delivery.

   Bids for US 1 Yellow Soybeans delivered full coast in 110 car shuttle
trains during February were not well tested in early trading, but bids were
indicated as higher compared to Tuesday’s noon bids for the same delivery
period.  Some exporters were not issuing bids for nearby delivery.

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

US 1 Soft White Wheat - delivered by Unit Trains and Barges
  Ordinary protein
    Feb                                 73.5 to 95.5      +H
    Mar                                 73.5 to 95.5      +H
    Apr                                 75.25 to 85.25    +K
    May                                 75.25 to 88.25    +K
    Aug NC                              42 to 56          +U
  Guaranteed maximum 10.5 pct protein
    Feb                                 73.5 to 88        +H
    Mar                                 73.5 to 91        +H
    Apr                                 75.25 to 78       +K
    May                                 75.25 to 80       +K
    Aug NC                              42 to 50          +U
_
US 1 White Club Wheat - delivered by Unit Trains and Barges
  Ordinary protein
    Feb                                 78.5 to 95.5      +H
  Guaranteed maximum 10.5 pct protein
    Feb                                 78.5 to 88        +H
_
US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or
better)
  Ordinary protei                       55 to 75          +H
  11 pct protein                        115 to 140        +H
  11.5 pct protein
    Feb                                 145 to 170        +H
    Mar                                 150 to 170        +H
    Apr                                 150 to 155        +K
    May                                 150 to 155        +K
  12 pct protein                        160 to 190        +H
  13 pct protein                        190 to 230        +H
_
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                        67 to 82          +H
  14 pct protein
    Feb                                 115 to 130        +H
    Mar                                 115 to 140        +H
    Apr                                 120 to 140        +K
    May                                 120 to 140        +K
 15 pct protein                         147 to 162        +H
 16 pct protein                         179 to 194        +H
_
US 2 Yellow Corn
 Shuttle trains-Delivered full coast Pacific Northwest-BN
    Feb                                 95 to 115         +H
    Mar                                 95 to 103         +H
    Apr                                 85 to 90          +K
    May                                 80 to 82          +K
    Jun                                 72 to 74          +N
    Jul                                 72 to 74          +N
_
US 1 Yellow Soybeans
 Shuttle trains-Delivered full coast Pacific Northwest-BN
    Feb                                 78 to 85          +H
    Mar                                 78 to 80          +H
    Apr                                 NA
    May                                 NA
    Jun                                 NA
    Jul                                 NA
_
BASIS REPORT SYMBOLS:
January-F; February-G; March-H; April-J; May-K; June-M; July-N;
August-Q; September-U; October-V; November-X; December-Z

Source:    USDA Market News Service, Portland, OR
           Niki Davila 503-535-5001  Portland.LPGMN@ams.usda.gov
           24 Hour Market Report  503-535-5005
           www.ams.usda.gov/mnreports/jo_gr111.txt
           www.ams.usda.gov/lpsmarketnewspage

8:46 P nd

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