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USDA-JO: Portland Weekly Grain Review - Part 1

Portland, OR - Thu Nov 8, 2018 - 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 8, mixed, mostly higher compared 
to week ago noon bids for November delivery.  

   December wheat futures ended the reporting week on Thursday, November 8, 
mixed as follows compared to week ago closes:  Chicago wheat futures were 0.25 
of a cent lower at 5.0775, Kansas City wheat futures were four cents lower at 
4.9725 and Minneapolis wheat futures trended 3.25 cents higher at 5.80.  
Chicago December corn futures trended 6.75 cents higher at 3.7350 and November 
soybean futures closed 1.50 cents lower at 8.6750.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains or 
barges during November for ordinary protein trended 10 to 13 cents per bushel 
higher compared to week ago prices for the same delivery period from 6.20-6.35.  
Some exporters were not issuing bids for nearby delivery.  White club wheat 
premiums were zero 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 5.2175-5.35 and 
bids for White Club Wheat were 5.2175-5.40.  Forward month bids for soft white 
wheat ordinary protein were as follows: December 6.23-6.35, January 6.26-6.28, 
January 6.28-6.31 and February 6.30-6.34.  One year ago, forward month bids for 
soft white wheat for any protein were as follows: December 5.2675-5.35, 
January, February and March 5.3375-5.40.

   Bids for US 1 Soft White Wheat guaranteed maximum 10.5 percent protein 
during November trended 10 to 20 cents per bushel higher compared to week ago 
prices for the same delivery period from 6.20-6.35.  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 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 5.2175-5.35 and bids for 
White Club Wheat were 5.2175-5.40.  Forward month bids for soft white wheat 
guaranteed 10.5 percent proteins were as follows:  December 6.23-6.35.  One 
year ago, forward month bids for soft white wheat for any protein were as 
follows:  December 5.2675-5.3675, January and February 5.3375-5.40.

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for November 
delivery trended 11 to 14 cents per bushel higher compared to week ago prices 
for the same delivery period from 6.3725-6.5525.  Some exporters were not 
issuing bids for nearby delivery.  This week, bids were as follows: December 
6.4725-6.5725 and January 6.4950-6.5950.

   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat 
for Portland delivery during November trended mixed, from 1.75 cents lower to 
13.25 cents per bushel higher compared to week ago prices for the same delivery 
period from 6.80-6.90.  Some exporters were not issuing bids for nearby 
delivery.  This week, bids for non-guaranteed 14 percent protein were as 
follows:  December 6.85-6.90 and January 6.8475-6.9475.

   Coarse feeding grains:  Bids for US 2 Yellow Corn delivered full coast 
Pacific Northwest - BN shuttle trains for November delivery trended 16.75 to 
18.75 cents per bushel higher compared to week ago prices for the same delivery 
period from 4.6150-4.6350.  Some exporters were not issuing bids for nearby 
delivery.  Forward month corn bids were as follows: December 4.6750-4.6850, 
January, February and March 4.7825-4.8325 and April 4.8225-4.8325.  Bids for US 
1 Yellow Soybeans 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 soybean bids were as follows:  
December not available.  Bids for US 2 Heavy White Oats for November delivery 
trended steady at 3.4825 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 14 grain vessels in Columbia 
River ports on Thursday, November 8, with five docked compared to nine last 
week with three 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

1205p nd

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