December 12, 2024
                                                                  
                                   Portland Price Trends
                 12-01-23    01-01-24    11-01-24    12-05-24   12-12-24
#1 SWW (bus)        6.80        6.65        6.00        5.95       5.95
White Club          7.30        7.15        6.15        6.10       6.10
DNS 14%             8.12        8.03        6.75        6.73       6.78
HRW 11.5%           7.02        6.97        6.42        6.27       6.36
#2 Corn (ton)     228.00      232.00      209.00      211.00     220.00
#2 Barley         180.00      180.00      150.00      150.00     150.00
 
   Wheat...Another week of largely sideways price fluctuations occurred 
for west coast cash wheat prices, with all bids mirroring the trends in 
their respective futures markets. The export bid structures still show
new crop August white wheat bid at a 10 cent premium to nearby old crop. 
   Weekly Sales...The USDA indicated a decrease in export demand for U.S. 
wheat last week, with figures reaching 10.7 million bushels, marking the 
lowest amount since late September.  Year-to-date commitments total 582 
million bushels, which is 21% higher than the same period last year and 
2% above the five-year average.  Hard red spring wheat was the leading 
seller, achieving 6.6 million bushels and bringing current year sales to 
191 million bushels, which is 16% ahead of last year and 15% above the 
average.  Hard red winter wheat recorded 1.6 million bushels in sales, 
with commitments at 135 million bushels, which is 49% higher than last 
year but 26% below the average.  White wheat had 1.3 million bushels in 
new sales, resulting in commitments of 153 million bushels, which sets
48% above last year and 21% above the average.
   Top Buyers...Last week, the Philippines emerged as the leading buyer 
of U.S. wheat, purchasing 3.4 million bushels. Mexico followed with 2.7 
million bushels, while Japan bought 2.1 million bushels.  U.S. wheat 
sales to Mexico have reached 110 million bushels, which represents an
increase of 40% from the same period last year.
   
                                - Norm Ruhoff  Contributing Analyst

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