April 23, 2024
                                                                  
                                   Portland Price Trends
                 04-01-23    08-01-23    03-01-24    04-16-24   04-23-24
#1 SWW (bu)        7.65        7.05        5.80        5.75       6.00
White Club         7.65        7.30        6.05        5.75       6.00
DNS 14%            9.77        9.05        7.34        7.25       7.45
HRW 11.5%         10.08        8.24        6.34        6.57       6.72
#2 Corn (ton)    290.00      254.00      213.00      222.00     219.00
#2 Barley        240.00      210.00      180.00      155.00     155.00
 
   Wheat...The early-week surge across the wheat futures complex brought
west coast white wheat prices back to the $6 mark for the first time since
February, attracting a small amount of selling interest.  Bid structures
show white wheat bid flat into October.
   Crop Progress...USDA reported that the three-state crop condition index
for the Pacific Northwest held unchanged from last week, with an improved
rating out of Washington offsetting modest declines for Idaho and Oregon.
Good to excellent ratings for Idaho slipped a point to 68%, Oregen dropped
4 points to 65%, but Washington improved 3% to 48%. Spring wheat plantings 
moved above the halfway mark for both Idaho and Washington, with respective
planted rates of 55% and 60%.
   Shipments...Weekly export inspections showed another relatively strong
week of U.S. wheat shipments, coming in at 16.5 mbus.  With a total of 604 
mbus moved, year-to-date loadings of 604 mbus stand 8% behind a year ago. 
West coast exporters loaded 8.5 mb of wheat, going mostly to Japan and The
Philippines. More than 20 mbus of corn were also shipped off the PNW, going
mostly to Japan and South Korea.

                                       -Norm Ruhoff  Contributing Analyst

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