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USDA-JO: Pacific NW Wheat Basis Report

Portland, OR - Thu Dec 07, 2017 - USDA Market News


Pacific NW Basis Report:  Morning soft white wheat, hard red
winter wheat, dark northern spring wheat, corn and soybean basis
for Portland delivery.  All bids in cents per bushel.
Bids are limited and not fully established in early trading.

   Bids for grains delivered to Portland, Oregon in dollars per bushel.

   In early trading December wheat futures trended 1.25 to 5.00 cents per
bushel lower than Wednesday’s closes.  March wheat futures trended 3.50
cents lower to 0.50 cents per bushel higher than Wednesday’s closes.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains and
barges for December delivery for ordinary protein were not well tested in
early trading, but bids were indicated as steady to lower compared to
Wednesday’s noon bids for the same delivery period.  Some exporters were
not issuing bids for nearby delivery.  Bids for guaranteed maximum 10.5
percent protein were not well tested in early trading, but bids were
indicated as steady to lower compared to Wednesday’s noon bids for the same
delivery period.  Some exporters were not issuing bids for nearby delivery.

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for December
delivery were not well tested in early trading but bids were indicated as
lower compared to Wednesday’s bids for the same delivery period.  Some
exporters were not issuing bids for nearby delivery.

   Bids for 14 percent protein US 1 Dark Northern Spring Wheat for December
delivery were not well tested in early trading but bids were indicated as
higher compared to Wednesday’s bids for the same delivery period.  Some
exporters are not issuing bids for nearby delivery.

   Bids for US 2 Yellow Corn delivered full coast in 110 car shuttle trains
during December were not well tested in early trading but bids were
indicated as lower compared to Wednesday’s bids for the same delivery
period.  Some exporters were not issuing bids for nearby delivery.

   Bids for US 1 Yellow Soybeans delivered full coast in 110 car shuttle
trains during December were not well tested in early trading but bids were
indicated as lower compared to Wednesday’s bids for the same delivery
period.  Some exporters were not issuing bids for nearby delivery.

Bids as of 9:30 a.m. Pacific time; Subject to change

US 1 Soft White Wheat - delivered by Unit Trains and Barges
  Ordinary protein
    Dec                                 87 to 108.25      +H
    Jan                                 90 to 108.25      +H
    Feb                                 93 to 108.25      +H
    Mar                                 96 to 108.25      +H
    Apr                                 85 to 99.25       +K
  Guaranteed maximum 10.5 pct protein
    Dec                                 87 to 108.25      +H
    Jan                                 90 to 108.25      +H
    Feb                                 93 to 108.25      +H
    Mar                                 96 to 108.25      +H
    Apr                                 85 to 90.25       +K
_
US 1 White Club Wheat - delivered by Unit Trains and Barges
  Ordinary protein
    Dec                                 87 to 113.25      +H
  Guaranteed maximum 10.5 pct protein
    Dec                                 87 to 113.25      +H
_
US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or
better)
  Ordinary protei                       60 to 70          +H
  11 pct protein                        120 to 130        +H
  11.5 pct protein
    Dec                                 150 to 160        +H
    Jan                                 145 to 155        +H
    Feb                                 145 to 155        +H
    Mar                                 150 to 155        +H
    Apr                                 NA
  12 pct protein                        165 to 180        +H
  13 pct protein                        195 to 220        +H
_
US 1 Dark Northern Spring Wheat (with a minimum of 300 falling numbers, a maximum
 of 0.5 part per million vomitoxin, and a maximum of one percent total damage)
  13 pct protein                        72 to 77          +H
  14 pct protein
    Dec                                 120 to 125        +H
    Jan                                 115 to 135        +H
    Feb                                 115 to 135        +H
    Mar                                 115 to 135        +H
    Apr                                 NA
 15 pct protein                         152 to 157        +H
 16 pct protein                         184 to 189        +H
_
US 2 Yellow Corn
 Shuttle trains-Delivered full coast Pacific Northwest-BN
    Dec                                 76 to 82          +H
    Jan                                 82 to 84          +H
    Feb                                 83 to 85          +H
    Mar                                 84 to 86          +H
    Apr                                 74 to 76          +K
    May                                 NA
_
US 1 Yellow Soybeans
 Shuttle trains-Delivered full coast Pacific Northwest-BN
    Dec                                 75 to 77          +F
    Jan                                 77 to 78          +F
    Feb                                 64 to 68          +H
    Mar                                 NA
    Apr                                 NA
    May                                 NA
_
BASIS REPORT SYMBOLS:
January-F; February-G; March-H; April-J; May-K; June-M; July-N;
August-Q; September-U; October-V; November-X; December-Z

Source:    USDA Market News Service, Portland, OR
           Niki Davila 503-535-5001  Portland.LPGMN@ams.usda.gov
           24 Hour Market Report  503-535-5005
           www.ams.usda.gov/mnreports/jo_gr111.txt
           www.ams.usda.gov/lpsmarketnewspage

10:41P nd

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