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USDA-JO: Portland Weekly Grain Review - Part 1

Portland, OR - Thu Dec 7, 2017 - USDA Market News


Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary

   Pacific Northwest Market Summary:  Cash wheat bids for December delivery ended 
the reporting week on Thursday, December 7, were mixed compared to week ago noon 
bids for December delivery.  

   March wheat futures ended the reporting week on Thursday, December 7, lower as 
follows compared to week ago closes:  Chicago wheat futures were 11.50 cents lower 
at 4.2150, Kansas City wheat futures were 10.75 cents lower at 4.2075 and
Minneapolis wheat futures trended 10.75 cents lower at 6.11.  Chicago December corn
futures trended 9.75 cents higher at 3.5150 and January soybean futures closed 6.25 
cents higher at 9.92.

   Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges 
during December for ordinary protein trended mixed, 6.50 cents lower to 10.00 cents 
per bushel higher compared to week ago prices for the same delivery period from 
5.0650-5.30.  Some exporters were not issuing bids for nearby delivery.  White club 
wheat premiums were zero to five cents per bushel over soft white wheat bids this 
week and last week.  One year ago bids for US 1 Soft White Wheat any protein for 
December delivery by unit trains and barges to Portland were 4.46-4.77 and bids for 
White Club Wheat were 4.51-4.95.  Forward month bids for soft white wheat ordinary 
protein were as follows: January 5.1150-5.30, February 5.1450-5.30, March 5.1750-
5.30 and April 5.20-5.34.  One year ago, forward month bids for soft white wheat 
for any protein were as follows: January 4.46-4.77, February and March 4.46-4.74, 
and April 4.4750-4.71.

   Bids for US 1 Soft White Wheat guaranteed maximum 10.5 percent protein during 
December trended mixed, 4.50 cents lower to 10.00 cents per bushel higher than week 
ago prices for the same delivery period from 5.0650-5.30.  Some exporters were not 
issuing bids for nearby delivery.  White club wheat premiums for guaranteed maximum 
10.5 percent protein soft white wheat this week were zero to five cents per bushel 
over soft white wheat bids this week and last week.  One year ago bids for US 1 
Soft White Wheat guaranteed maximum 10.5 percent protein for December delivery by 
unit trains and barges to Portland were 4.46-4.60 and bids for White Club Wheat 
were 4.46-4.76.  Forward month bids for soft white wheat guaranteed 10.5 percent 
proteins were as follows:  January 5.1150-5.30, February 5.1450-5.30 and March 
5.1750-5.30.  One year ago, forward month bids for soft white wheat for any protein 
were as follows:  January, February and March 4.51-4.60 and April 4.4750-4.65.

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for December delivery 
trended 8.75 to 10.75 cents per bushel lower than week ago bids for the same 
delivery period.  Some exporters were not issuing bids for nearby delivery.  This 
week, bids were as follows:  December 5.6575-5.8075, January and February 5.6575-
5.7575 and March 5.7075-5.7575.

   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for 
Portland delivery during December trended mixed, 5.75 cents lower to 9.25 cents per 
bushel higher than week ago bids for the same delivery period.  Some exporters were 
not issuing bids for nearby delivery.  This week, bids for non-guaranteed 14 
percent protein were as follows:  December 7.31-7.36, January, February and March 
7.26-7.46.

   Coarse feeding grains:  Bids for US 2 Yellow Corn delivered full coast Pacific 
Northwest - BN shuttle trains for December delivery trended 6.75 to 9.75 cents 
higher than week ago offers for the same delivery period from 4.2750-4.3350.  Some 
exporters were not issuing bids for nearby delivery.  Forward month corn bids were 
as follows:  January 4.3350-4.3550, February 4.3450-4.36504075, March 4.3550-4.3750 
and April 4.34-4.36.  Bids for US 1 Yellow Soybeans delivered full coast Pacific 
Northwest - BN shuttle trains for November delivery trended 1.25 to 4.25 cents 
higher than week ago bids for the same delivery period from 10.67-10.69.  Some 
exporters were not issuing bids for nearby delivery.  Forward month soybean bids 
were as follows:  January 10.69-10.70, and February 10.6825-10.7225.  Bids for US 2 
Heavy White Oats for November delivery trended 7.25 cents lower at 3.0475 per 
bushel.

   Outstanding Export Sales:  Outstanding U.S. white wheat export sales can be 
found at the following link:
https://apps.fas.usda.gov/export-sales/wheat.htm
   
   Outstanding U.S. barley export sales can be found at the following link:
https://apps.fas.usda.gov/export-sales/barley.htm

   Pacific Northwest Export News:  There were nine grain vessels in Columbia River 
ports on Thursday, December 7, with four docked compared to nine last week with six 
docked.  There were no new confirmed export sales this week from the Commodity 
Credit Corporation (CCC) of the USDA.

Source:  USDA Market News, Portland, OR
         Niki Davila 503-535-5001 Portland.LPGMN@ams.usda.gov
         24 hour price information 503-535-5005
         http://www.ams.usda.gov/mnreports/jo_gr115.txt
         www.ams.usda.gov/lpsmarketnewspage

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