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                                                      September 27, 2022
                                                                  
                                   Portland Price Trends
                 09-01-21    01-01-22    08-01-22    09-20-22   09-27-22
#1 SWW (bu)        10.85       10.70        9.00        9.50       9.30
White Club         12.85       12.45        9.00       10.00       9.80
DNS 14%            10.34       10.78        9.77       10.29      10.30
HRW 11.5%           8.69        9.81        9.76       10.67      10.73
#2 Corn (ton)     240.00      274.00      276.00      304.00     300.00
#2 Barley         240.00      240.00      235.00      240.00     240.00

   Wheat...The recent spike in white wheat prices triggered some selling
over the past week, and nearby cash bids took on a more subdued tone in
early week trading.  Basis levels also weakened to the low end of a three
month trading range.  Protein wheat basis remained steady, with 11.5 pro
hard red winter holding a premium to 14 pro dark northern spring.  
   Crop Progress..The band of moisture with cooler weather across the PNW
over the past week served as a catalyst for winter wheat planting, as all
three states reported good progress and improved emergence.  Idaho is 34%
planted, Oregon stands at 19% and Washington reported in at 57% planted,
with emergence moving ahead of average. 
   Shipments...Weekly export inspections showed yet another solid week of
export movement for U.S. wheat, coming in at 19.1 mb to put shipments at
285 mb and just 4% behind a year ago.  Hard red spring was the top mover
at 6.1 mb, followed by hard red winter with 5.5 mb and soft white at 5.1
mb.  China was the top destination off the west coast with 4.1 mb. Japan,
the Philippines, Taiwan, and Vietnam also took on at least 1.5 mb each.

                                     -Norm Ruhoff  Contributing Analyst

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