January 19, 2021
                                                                  
                                   Portland Price Trends
                 01-01-20    08-01-20    12-01-20    01-12-21   01-12-21
#1 SWW (bu)         6.15        5.60        6.35        7.00       7.20
White Club          7.65        6.00        6.60        7.15       7.35
DNS 14%             7.21        6.21        6.59        7.32       7.54
HRW 11.5%           6.26        5.71        6.69        7.53       7.76
#2 Corn (ton)     175.00      151.00      193.00      220.00     226.00
#2 Barley         140.00      130.00      135.00      145.00     150.00

   Wheat...West coast white wheat markets remained firm as the week got
underway, holding at the $7.20 level. Hard red winter also continues to
mark higher ground and moved above $7.75 for 11.5% protein for the first
time in six years.  Exporter bid structures reflect interest in nearby
ownership as cash prices are mostly flat over the next 60 days.
   Shipments...Weekly export inspections showed another subdues pace of
export loadings for U.S. wheat last week, coming in right at last week's
total of 10.2 mb.  Year-to-date shipments stand at 572 mb and have now
slipped 3% behind a year ago. White wheat shipments were the bright spot
for the past week, coming in at 4.1 mb, followed by hard red winter with
3.6 mb and red spring at 1.6 mb.  Top destination off the west coast was
Indonesia, taking 3.9 mb of soft white wheat.
   
                                    -Norm Ruhoff  Contributing Analyst

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