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USDA-JO: Portland Weekly Grain Review - Part 1

Portland, OR - Thu Oct 12, 2017 - USDA Market News


Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary

***ALL COMPARISONS MADE TO TWO WEEKS AGO PRICES AND FUTURES***

   Pacific Northwest Market Summary:  Cash wheat bids for October delivery ended 
the reporting week on Thursday, October 12, were lower compared to week ago noon 
bids for October delivery.  

   December wheat futures ended the reporting week on Thursday, October 12, lower 
as follows compared to week ago closes:  Chicago wheat futures were 24.50 cents 
lower at 4.3050, Kansas City wheat futures were 26.75 cents lower at 4.2625 and 
Minneapolis wheat futures trended 33.75 cents lower at 6.1125.  Chicago December 
corn futures trended 3.50 cents lower at 3.49 and November soybean futures closed 
32.50 cents higher at 9.92.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges 
during October for ordinary protein trended 14 to 24.50 cents per bushel lower 
compared to week ago prices for the same delivery period from 5.0550-5.31.  Some 
exporters were not issuing bids for nearby delivery.  White club wheat premiums 
were zero to five cents per bushel over soft white wheat bids this week and last 
week.  One year ago bids for US 1 Soft White Wheat any protein for October delivery 
by unit trains and barges to Portland were 4.50-4.6675 and bids for White Club 
Wheat were 4.6675-4.71.  Forward month bids for soft white wheat ordinary protein 
were as follows: November 5.0550-5.35, December 5.1050-5.35, January 5.0950-5.40 
and February 5.3450-5.40.  One year ago, forward month bids for soft white wheat 
for any protein were as follows: November 4.6-4.6675, December 4.65-4.6675, January 
4.8650-4.9150 and February 4.8650-4.95.

   Bids for US 1 Soft White Wheat guaranteed maximum 10.5 percent protein during 
October trended 14 to 24.50 cents per bushel lower than week ago prices for the 
same delivery period from 5.0550-5.31.  Some exporters were not issuing bids for 
nearby delivery.  White club wheat premiums for guaranteed maximum 10.5 percent 
protein soft white wheat this week were zero to five cents per bushel over soft 
white wheat bids this week and last week.  One year ago bids for US 1 Soft White 
Wheat guaranteed maximum 10.5 percent protein for October delivery by unit trains 
and barges to Portland were 4.6675-4.7675 and bids for White Club Wheat were also 
4.6675-4.7675.  Forward month bids for soft white wheat guaranteed 10.5 percent 
proteins were as follows:  November 5.0550-5.35, December 5.1050-5.35, January 
5.0950-5.40 and February 5.3450-5.40.  One year ago, forward month bids for soft 
white wheat for any protein were as follows:  November 4.60-4.7675, December 4.60-
4.7675, January and February 4.9150-4.9650.

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for October delivery 
were 21.75 to 46.75 cents per bushel lower compared to week ago noon bids for the 
same delivery period.  Some exporters were not issuing bids for nearby delivery.  
This week, bids were as follows:  October 5.2625-5.9125, November and December 
5.5125-5.9125, and January 5.5450-5.9450.

   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for 
Portland delivery during October were 33.75 cents per bushel lower than week ago 
noon bids for the same delivery period.  Some exporters were not issuing bids for 
nearby delivery.  This week, bids for non-guaranteed 14 percent protein were as 
follows:  October, November and December 7.2125-7.4125, and January 7.25-7.50.

   Coarse feeding grains:  Bids for US 2 Yellow Corn delivered full coast Pacific 
Northwest - BN shuttle trains for October delivery were not available as most 
exporters were not issuing bids for nearby delivery.  Forward month corn bids were 
as follows:  November 4.01-4.04, December 4.07-4.16, January 4.1975-4.2775, 
February 4.2775-4.2975 and March 4.2775-4.3375.  Bids for US 1 Yellow Soybeans 
delivered full coast Pacific Northwest - BN shuttle trains for October delivery 
were trended 19.50 to 24.50 cents higher than week ago bids for the same delivery 
period from 10.59-10.65.  Some exporters were not issuing bids for nearby delivery.  
Forward month soybean bids were as follows:  November 10.62-10.68, December and 
January 10.7050-10.7550.  Bids for US 2 Heavy White Oats for October delivery 
trended steady at 3.12 per bushel.

   Outstanding Export Sales:  Outstanding U.S. white wheat export sales can be 
found at the following link:
https://apps.fas.usda.gov/export-sales/wheat.htm
   
   Outstanding U.S. barley export sales can be found at the following link:
https://apps.fas.usda.gov/export-sales/barley.htm

   Pacific Northwest Export News:  There were 13 grain vessels in Columbia River 
ports on Thursday, October 5, with four docked compared to 15 last week with two 
docked.  There were no new confirmed export sales this week from the Commodity 
Credit Corporation (CCC) of the USDA.

Source:  USDA Market News, Portland, OR
         Niki Davila 503-535-5001 Portland.LPGMN@ams.usda.gov
         24 hour price information 503-535-5005
         http://www.ams.usda.gov/mnreports/jo_gr115.txt
         www.ams.usda.gov/lpsmarketnewspage

1235p  nd

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