July 29, 2010
Portland Price Trends
07-01-09 01-05-10 06-01-10 07-22-10 07-29-10
#1 SWW (bu) 5.60 5.15 4.68 5.05 5.65
White Club 5.60 8.15 6.18 5.30 5.30
HRS 14% 7.24 6.98 6.31 6.97 6.97
HRW 11.5% 6.15 5.85 5.08 5.97 5.97
#2 Corn (ton) 160.00 185.00 164.00 170.00 170.00
#2 Barley 130.00 130.00 120.00 120.00 120.00
Wheat...PNW white wheat markets posted a stellar performance this week,
reaching new one-year highs on strength in wheat futures and fresh demand
inquiries. Late August bids reached the $5.70 mark today, with carries of
a nickel per month or more putting January bids near $6. Nearby bids for
red spring and winter wheat remained defensive, but deferred numbers were
more attractive due to solid carries being posted.
Weekly Sales...USDA's weekly tally showed hard red spring wheat demand
recording the best week of the marketing year. An 11 mb week puts current
year demand at a total of 71 mb and 36% ahead of last year. Topping the
list of spring wheat buyers is Japan, followed by the Philippines, South
Korea, unknown, and Nigeria. Soft white demand was the laggard last week,
registering 2.5 mb to put year-to-date sales at 59 mb and 18% above year-
ago levels. Leading buyer thus far has been the Philippines, followed by
South Korea, Japan, unknown and Thailand.
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