October 28, 2025
                                                                  
                                   Portland Price Trends
                 10-01-24    01-01-25    09-01-25    10-21-25   10-28-25
#1 SWW (bus)        6.00        5.90        6.05        5.90       6.00
White Club          6.15        6.05        6.40        6.25       6.35
DNS 14%             7.05        6.71        6.45        6.17       6.43
HRW 11.5%           6.53        6.33        5.85        5.56       5.99
#2 Corn (ton)     216.00      224.00      203.00      197.00     202.00
#2 Barley         150.00      170.00      170.00      160.00     160.00
 
   Wheat...Recent strength across the futures complex was most pronounced
in the hard red winter and dark northern spring wheat bids in early-week 
trade, as white wheat saw basis weaken against advances in Chicago. Spot
basis dropped nearly 20 cents from last week, but nearby bids did make it
to the $6 mark for the first time since early September. In contrast, the
spot basis for both hard red winter and dark northern spring wheat gained
a nickel over the past week and carries flattened into November.
   Shipments...Wheat inspections showed a marked slowdown in the pace of
U.S. wheat movement last week, coming in at 9.5 million bushels to place
year-to-date loadings at 421 million bushels and 20% ahead of a year ago.
Hard red spring registered 2.4 million bushels for the week, white wheat
was at 2.1 million and hard red winter moved 1.4 million. Export activity
on the west coast showed 6.9 million bushels of wheat shipped, mostly to
South Korea, along with 8.6 million bushels of corn.
      
                                  - Norm Ruhoff  Contributing Analyst

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