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October 21, 2021
Portland Price Trends
10-01-20 01-01-20 09-01-21 10-14-21 10-21-21
#1 SWW (bu) 5.70 6.65 10.85 10.55 10.55
White Club 6.05 6.65 12.85 12.55 12.55
DNS 14% 6.53 7.14 10.34 10.85 11.08
HRW 11.5% 6.46 7.38 8.64 8.91 9.08
#2 Corn (ton) 168.00 211.00 242.00 247.00 258.00
#2 Barley 130.00 145.00 240.00 240.00 240.00
Wheat...West coast wheat markets showed dark northern spring was the
big gainer for the week, moving above $11 for the first time since 2012.
Hard red winter 11.5% protein markets also held the $9 level while white
wheat continued on a steady course, with exporters posting premiums for
low protein deliveries. Carries remained flat across all the markets.
Weekly Sales...USDA reported overall wheat sales coming in just below
the four-week average at 13.3 mb, putting year-to-date commitments at 453
mb which sets 20% behind a year ago and 16% below the 5-year average pace.
Hard red winter was the top seller with 7.6 mb to put sales at 17% behind
a year ago and 11% below average at 177 mb. Hard red spring booked 2.3 mb
for the week and with 123 mb in commitments, sets 24% behind last year at
this time and 22% below average. White wheat registered 2.2 mb and with
82 mb in bookings, sets 34% behind last year and 27% below average.
Top Buyers...Nigeria was the big wheat buyer last week, booking 3.6 mb.
This was followed by Japan with 3.4 mb, Colombia with 2.8 mb, Thailand at
1.9 mb and Venezuela buying 1.2 mb.
-Norm Ruhoff Contributing Analyst
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