3/4/2021 - 12:28:00
March 4, 2021 Portland Price Trends 03-01-20 08-01-20 02-01-21 02-25-21 03-04-21 #1 SWW (bu) 5.95 5.60 7.30 7.65 7.60 White Club 7.45 6.00 7.45 7.65 7.60 DNS 14% 6.93 6.21 7.33 7.50 7.46 HRW 11.5% 6.08 5.71 7.55 7.75 7.52 #2 Corn (ton) 176.00 151.00 220.00 222.00 220.00 #2 Barley 135.00 130.00 155.00 160.00 170.00 Wheat...West coast white wheat markets remained well supported through the week, with USDA revealing that China continues to purchase U.S. white wheat. Spot basis levels move to 104 over, as exporters switched bids to the Chicago May futures. Hard red winter saw a rare week to week decline, as higher prices have pared export demand. Weekly Sales...USDA reported another subdued week of export demand for U.S. wheat, coming in at 8.1 mb to put overall year-to-date commitments at 874 mb; 3% ahead of a year ago adn 7% above the five-year average pace for late February. Top seller was hard red winter with 3.2 mb, putting sales 7% behind a year ago and 1% below average at 297 mb. Hard red spring saw 2.5 mb in new sales and with 261 mb in the books, sets 4% above last year and 8% above average. Soft white saw further Chineses buying put weekly sales at 1.6 mb and with 231 mb in commitments, sets 35% ahead of a year ago and 41% above the five-year average pace. -Norm Ruhoff Contributing Analyst Copyright 2021 DTN/Telvent. All Rights Reserved.