March 27, 2025
                                                                  
                                   Portland Price Trends
                 03-01-24    08-01-24    02-01-25    03-20-25   03-27-25
#1 SWW (bus)        6.40        5.65        6.05        6.25       6.10
White Club          6.90        5.65        6.20        6.40       6.25
DNS 14%             7.81        6.58        6.91        6.73       6.50
HRW 11.5%           6.81        6.04        6.51        6.28       6.01
#2 Corn (ton)     225.00      199.00      228.00      236.00     211.00
#2 Barley         150.00      150.00      150.00      170.00     170.00
 
   Wheat...The retreat across the wheat futures complex weighed on the west
coast cash wheat markets this week, as bids drifted 15 to nearly 30 cents 
lower.  White wheat bids fared a bit better than the protein wheat markets,
as nearby basis strengthened another dime this week.
   Weekly Sales...USDA revealed yet another relatively soft week of export
demand for U.S. wheat, coming in at just 3.7 million bushels to place year-
to-date commitments at 768 million bushes.  This total sets 14% ahead of a
year ago and on-par with the five-year average pace.  Hard red winter sold
2.2 million bushels and with 189 million in commitments, sets 48% ahead of
a year ago but 23% behind a year ago.  Hard red spring booked 1.5 million
bushels, putting sales at 244 million which is 6% ahead of a year ago and
5% ahead of average.  Soft white wheat registered a net decline of 700,000
bushels and with 208 million bushels in commitments, sets 47% ahead of last
year and 22% above average.  Japan was top buyer with 2.6 million bushels,
followed by Nigeria with 1.9 million and The Philippines with 1.1 million.

                                   - Norm Ruhoff  Contributing Analyst

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