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                                                      March 26, 2024
                                                                  
                                   Portland Price Trends
                 03-01-23    08-01-23    02-01-24    03-19-24   03-26-24
#1 SWW (bu)        8.10        7.05        6.40        5.55       5.60
White Club         8.10        7.30        6.90        5.55       5.60
DNS 14%            9.48        9.05        7.81        7.49       7.39
HRW 11.5%          9.56        8.24        6.81        6.52       6.48
#2 Corn (ton)    278.00      254.00      226.00      224.00     220.00
#2 Barley        250.00      210.00      180.00      155.00     155.00
 
   Wheat...West coast white wheat markets saw an early-week spike to the
$5.70 level, as exporters worked to cover a recent feed wheat sale. The
spike generated some movement and prices pulled back in short order. Bid
structures show white wheat prices are flat into October, with hard red 
winter and hard red spring posting a modest carry into June.  
   Shipments...Weekly export inspections showed another relatively light
week of wheat movement off U.S. ports, coming in at 11.5 mb to put year-
to-date loadings at 520 million bushels and 15% behind a year ago.  Hard
red spring was the top shipper with 6.7 million bushels, followed by soft
white wheat with 2.3 million and hard red winter at 1.7 million. Exporter
activity on the west coast showed a total of 6.6 mb of wheat shipped that
went mostly Bangladesh, South Korea and Taiwan. Nearly 20 mb of corn were
also loaded for Colombia, South Korea and Japan.

                                    -Norm Ruhoff  Contributing Analyst

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