January 16, 2025
                                                                  
                                   Portland Price Trends
                 01-01-24    08-01-24    12-01-24    01-09-25   01-16-25
#1 SWW (bus)        6.65        5.65        5.95        5.90       5.90
White Club          7.15        5.65        6.10        6.05       6.05
DNS 14%             8.03        6.58        6.67        6.68       6.57
HRW 11.5%           6.97        6.04        6.16        6.36       6.24
#2 Corn (ton)     232.00      199.00      212.00      222.00     231.00
#2 Barley         180.00      150.00      150.00      150.00     150.00
 
   Wheat...West coast white wheat markets traded within a nickel range this
week, with exporters holding bids on a mostly sideways trek as that price is
attracting demand.  South Korea booked another 4.8 million bushels of white
wheat and with 72 million bushels in purchases is setting 30 million bushels
above last year's total. Exporter bid structures remain flat for all classes
of wheat, as both hard red winter and dark northern spring bids are leveled 
out from January through May.
   Weekly Sales...USDA reported a nice rebound in U.S. wheat export demand
over the past week, coming in near the top end of the marketing year range
at 18.9 million bushels.  Commitments now stand at 644 million bushels, up
14% from a year ago and right in-line with the 5-year average pace.  White
wheat sales led the charge, coming in at 8.7 million bushels to put current
year sales at 176 million bushels, which stands 57% better than a year ago
and 25% above average.  Hard red spring also saw an improved week of demand
with 6.2 million bushels in sales, placing commitments at 211 million bushels
which is 15% ahead of a year ago and 12% above average. Hard red winter saw
2 million bushels in new sales and with 150 million bushels in commitments,
sets 52% ahead of a year ago but 26% below average.
   
                                      - Norm Ruhoff  Contributing Analyst

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