September 26, 2024
                                                                  
                                   Portland Price Trends
                 09-01-23    01-01-24    08-01-24    09-19-24   09-26-24
#1 SWW (bus)        6.80        6.65        5.65        5.85       5.95
White Club          7.05        7.15        5.65        6.00       6.10
DNS 14%             8.10        8.03        6.58        6.73       6.87
HRW 11.5%           7.43        6.97        6.04        6.19       6.38
#2 Corn (ton)     246.00      232.00      199.00      205.00     210.00
#2 Barley         200.00      180.00      150.00      150.00     150.00
 
   Wheat...West coast wheat markets all posted week to week gains, drawing
support from stronger futures markets.  Limited farm offers and a recent
CCC donation to Yemen also remain supportive to white wheat bids.  Export
bid structures show all three cash markets are flat into December.
   Weekly Sales...USDA reported weakening export demand for U.S. wheat as
the recent rebound in prices has put global buyers on the sidelines. Total
sales of 5.8 mbus were a marketing year low, putting commitments to date
at 410 mbus, which is 30% ahead of a year ago but on par with the five-year
average for this time of year.  White wheat booked 1.6 mbus and with 103 
mbus in sales, sets 55% ahead of a year ago and 25% above average. Hard red
winter saw 1.3 mbus to put commitments 74% ahead of a year ago and 28% above
average at 97 mbus.  Hard red spring sales slipped to the lowest level for
the marketing year with less than 1 mbus, putting sales at 136 mbus which is
21% ahead of a year ago and 13% above average. 
   Top Buyers...The list of U.S. wheat buyers showed Chile claiming the top
spot with 3 mbus, followed by The Philippines at 1.8 mbus and Japan with 1.6
mbus.  Guatemala and Nigeria rounded out the top with with a combined total
of 2.1 mbus.

                                     -Norm Ruhoff  Contributing Analyst

               Copyright  2024 DTN/Telvent.  All Rights Reserved.