July 17, 2025
                                                                  
                                   Portland Price Trends
                 07-01-24    08-01-24    06-01-25    07-10-25   07-17-25
#1 SWW (bus)        6.10        5.65        6.25        6.15       6.05
White Club          6.10        5.65        6.40        6.30       6.20
DNS 14%             7.02        6.58        6.60        6.94       6.60
HRW 11.5%           6.39        6.04        5.62        5.88       5.82
#2 Corn (ton)     201.00      199.00      218.00      195.00     190.00
#2 Barley         160.00      150.00      170.00      170.00     170.00
 
   Wheat...Further drift across the futures complex was reflected in west
coast cash wheat bids this week, most notably in the dark northern spring
market. Bid structures remain flat for the next two months, with January
bids showing a 12 cent carry for white wheat and 25 cents for both hard
red winter and dark northern spring wheat.
   Weekly Sales...USDA revealed yet another week of relatively strong
export demand, with hard red winter leading the charge. Weekly sales of
18.2 million bushels places overall commitments at 303 million bushels,
which is 7% ahead of a year ago and 17% above the five-year average pace.
Hard red winter accounted for two-thirds of the weekly total and with 119
million bushels in sales, sets 68% ahead of a year ago, 55% above average
and at the best level since 2017. Hard red spring registered 2.1 million
bushels, putting commitments at 85 million, which is 13% below a year ago
but 6% above average. White wheat recorded less than a million bushels
and with 43 million in sales, sets 36% behind a year ago and 20% below 
the five-year average pace for mid-July.
   Top Buyers...Mexico was the top U.S. wheat buyer for the week with 3.1
million bushels, follwed by Venezuela with 2.6 million, the Republic of
South Africa with 1.9 million, Japan with 1.8 million and Peru with 1.7
million bushels.
   
                                  - Norm Ruhoff  Contributing Analyst

                    Copyright  2025 DTN.  All Rights Reserved.