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                                                      February 7, 2023
                                                                  
                                   Portland Price Trends
                 02-01-22    08-01-22    01-01-23    01-31-23   02-07-23
#1 SWW (bu)        10.75        9.00        8.55        8.50       8.
White Club         12.50        9.00        9.05        8.75       8.
DNS 14%            10.25       10.08       10.19       10.02      10.
HRW 11.5%           9.86       10.00       10.08       10.09      10.
#2 Corn (ton)     283.00      279.00      302.00      297.00     2.00
#2 Barley         240.00      235.00      250.00      250.00     2.00

   Wheat..West coast wheat markets showed nearby white wheat bids holding
mostly steady in early-week trade, as basis levels strengthened against
any weakness in Chicago futures. Recent demand and limited farm offerings
remain supportive.  Hard red winter 11.5% protein bids continue to reflect
a premium to dark northern spring, and nearby basis to KC March futures
strengthened to 130 over; the first change in basis since late August.
   Shipments...Weekly export inpsections showed a strong week of movement
off U.S. ports for wheat, coming in at nearly 20 mb to place year-to-date
totals 2% behind a year ago at 505 mb.  White wheat was top shipper with
6.4 mb, followed by hard red winter at 5.1 mb and hard red spring at 4.4
mb.  West coast loading activity showed the Philippines taking on 4.4 mb
of wheat and 1.1 mb was shipped for Egypt. China took 17.5 mb of soybeans.
     
                                    -Norm Ruhoff  Contributing Analyst

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