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USDA-JO: Portland Weekly Grain Review - Part 1

Portland, OR - Thu Nov 9, 2017 - 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 9, were higher compared to week ago noon 
bids for November delivery.  

   December wheat futures ended the reporting week on Thursday, November 9, higher 
as follows compared to week ago closes:  Chicago wheat futures were three cents 
higher at 4.29, Kansas City wheat futures were 3.25 cents higher at 4.29 and 
Minneapolis wheat futures trended 25.25 cents higher at 6.48.  Chicago December 
corn futures trended nine cents lower at 3.4150 and November soybean futures closed 
13.75 cents lower at 9.7525.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges 
during November for ordinary protein trended steady to 5.00 cents per bushel higher 
compared to week ago prices for the same delivery period from 5.25-5.35.  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 November 
delivery by unit trains and barges to Portland were 4.7175-4.76 and bids for White 
Club Wheat were 4.9675-4.98.  Forward month bids for soft white wheat ordinary 
protein were as follows: December 5.27-5.35, January 5.30-5.40, February 5.32-5.40 
and March 5.34-5.40.  One year ago, forward month bids for soft white wheat for any 
protein were as follows: December 4.5175-4.78, January and February 4.75-4.8950 and 
March 4.6450-4.8950.

   Bids for US 1 Soft White Wheat guaranteed maximum 10.5 percent protein during 
November trended steady to five cents per bushel higher than week ago prices for 
the same delivery period from 5.25-5.35.  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 November delivery by unit trains 
and barges to Portland were 4.6675-4.7675 and bids for White Club Wheat were 
4.6675-5.0175.  Forward month bids for soft white wheat guaranteed 10.5 percent 
proteins were as follows:  December 5.27-5.35, January 5.30-5.40 and February 5.32-
5.40.  One year ago, forward month bids for soft white wheat for any protein were 
as follows:  December 4.5175-4.7675, January and February 4.75-4.9450 and March 
4.6450-4.9450.

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for November delivery 
trended 3.25 to 18.25 cents per bushel higher than week ago bids for the same 
delivery period.  Some exporters were not issuing bids for nearby delivery.  This 
week, bids were as follows:  November 5.84-5.99, December 5.69-5.99, January 5.81-
5.96, February and March 5.96.

   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for 
Portland delivery during November trended 25.25 cents per bushel higher than week 
ago 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:  November 7.68-7.78, December 7.58-7.83, January, February and March 7.68-
7.93.

   Coarse feeding grains:  Bids for US 2 Yellow Corn delivered full coast Pacific 
Northwest - BN shuttle trains for November delivery were not available as most 
exporters were not issuing bids for nearby delivery.  Forward month corn bids were 
as follows:  December 4.1150-4.1850, January 4.2175-4.2675, February 4.2475-4.2775, 
March 4.2575-4.2775 and April 4.2350-4.2750.  Bids for US 1 Yellow Soybeans 
delivered full coast Pacific Northwest - BN shuttle trains for November delivery 
trended 7.75 to 13.75 cents lower than week ago bids for the same delivery period 
from 10.3525-10.4525.  Some exporters were not issuing bids for nearby delivery.  
Forward month soybean bids were as follows:  December 10.44-10.55 and January 
10.42-10.53.  Bids for US 2 Heavy White Oats for November delivery trended 7.25 
cents per bushel higher 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 six grain vessels in Columbia River 
ports on Thursday, November 9, with three docked compared to six last week with 
five 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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