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                                                     December 5, 2024
                                                                  
                                   Portland Price Trends
                 12-01-23    01-01-24    11-01-24    11-28-24   12-05-24
#1 SWW (bus)        6.80        6.65        6.00        5.95       5.95
White Club          7.30        7.15        6.15        6.10       6.10
DNS 14%             8.12        8.03        6.75        6.66       6.73
HRW 11.5%           7.02        6.97        6.42        6.19       6.27
#2 Corn (ton)     228.00      232.00      209.00      210.00     211.00
#2 Barley         180.00      180.00      150.00      150.00     150.00
 
   Wheat...It was mostly a sideways week for west coast wheat prices, as
bids gained some footing from higher futures markets on Thursday.  White
wheat prices continue to hover within a dime of the $6 mark, supported by
another week of good buying out of South Korea. 
   Weekly Sales...USDA reported wheat export demand came in near the prior
week at 13.9 mbus, placing year-to-date commitments at 571 mbus which is
23% ahead of a year ago and 3% above the five-year average pace. Hard red
winter was top seller with 4.6 mbus and with 133 mbus in sales is setting
51% ahead of a year ago but 25% below average.  White wheat garnered 3.7
mbus for the week, putting commitments at 151 mbus which is 53% ahead of a
year ago and 24% above average.  Soft red winter booked 3.5 mbus to place
sales at 91 mbus, down 15% from a year ago but 17% above average. Hard red
spring saw 2.2 mbus in new business and with 185 mbus in the books, sets
16% ahead of a year ago and 14% above average.
   Top Buyers...Mexico claimed top buyer honors last week with 5.6 mbus of
mostly hard red winter, South Korea bought 5 mbus of mostly soft white and
Unknown booked 2 mbus of soft red winter. Venezuela and Algeria rounded-out
the top five iwth 1.2 mbus and 1 mbus, respectively.
   
                                      - Norm Ruhoff  Contributing Analyst

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