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USDA-JO: Pacific NW Wheat Basis Report

Portland, OR - Wed May 16, 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 July wheat futures trended three to 5.75 cents per
bushel higher than Tuesday’s noon closes.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains and
barges for May 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 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 11.5 percent protein US 1 Hard Red Winter Wheat for May
delivery were not well tested in early trading but bids were indicated as
higher 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 May
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 May had no recent price comparison available.  Some exporters were
not issuing bids for nearby delivery.

   Bids for US 1 Yellow Soybeans delivered full coast in 110 car shuttle
trains during May were not available in early trading as most 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
    May                                 78.5 to 98        +N
    Jun                                 78.5 to 103       +N
    Jul                                 78.5 to 98        +N
    Aug NC                              61.25 to 70       +U
    Sep                                 61.25 to 75       +U
  Guaranteed maximum 10.5 pct protein
    May                                 78.5 to 98        +N
    Jun                                 78.5 to 103       +N
    Jul                                 78.5 to 98        +N
    Aug NC                              62.25 to 70       +U
    Sep                                 NA
_
US 1 White Club Wheat - delivered by Unit Trains and Barges
  Ordinary protein
    May                                 78.5 to 98        +N
  Guaranteed maximum 10.5 pct protein
    May                                 78.5 to 98        +N
_
US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or
better)
  Ordinary protei                       45 to 65          +N
  11 pct protein                        105 to 125        +N
  11.5 pct protein
    May                                 125 to 145        +N
    Jun                                 125 to 145        +N
    Jul                                 110 to 140        +N
    Aug NC                              90 to 115         +U
    Sep                                 110 to 115        +U
  12 pct protein                        135 to 155        +N
  13 pct protein                        155 to 180        +N
_
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                        110 to 133        +N
  14 pct protein
    May                                 150 to 165        +N
    Jun                                 145 to 150        +N
    Jul                                 140 to 150        +N
    Aug NC                              120 to 130        +U
    Sep                                 115 to 125        +U
 15 pct protein                         174 to 181        +N
 16 pct protein                         197 to 198        +N
_
US 2 Yellow Corn
 Shuttle trains-Delivered full coast Pacific Northwest-BN
    May                                 115 to 115        +N
    Jun                                 108 to 110        +N
    Jul                                 105 to 107        +N
    Aug                                 100 to 104        +U
    Sep                                 80 to 85          +U
    Oct                                 80 to 85          +Z
_
US 1 Yellow Soybeans
 Shuttle trains-Delivered full coast Pacific Northwest-BN
    May                                 NA
    Jun                                 NA
    Jul                                 NA
    Aug                                 NA
    Oct                                 75 to 85          +X
    Nov                                 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

8:42 P nd

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