Portland, OR Thu Dec 5, 2013 USDA Market News
Portland Weekly Grain Review Part 1
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for December
delivery ended the reporting week on Thursday, December 5, mixed. Bids
for soft white wheat bids trended mixed, while hard red winter wheat and
dark northern spring wheat trended lower.
March wheat futures ended the reporting week on Thursday, December
5, lower as follows compared to last Wednesday's closes: Chicago 11.50
cents lower at 6.52, Kansas City 11.25 cents lower at 6.9525 and
Minneapolis wheat futures trended 22.50 cents lower at 6.8425. Chicago
March corn futures trended seven cents higher at 4.3350 while January
soybean futures closed eight cents higher at 13.20.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains
or barges during December were mixed, from 7.25 lower to 15.75 cents per
bushel higher than last Wednesday's bids for December delivery. A higher
basis bid by some exporters were supportive to bids, while the lower
Chicago March wheat futures for the week weighed on bids. Several
exporters were not issuing bids for nearby delivery.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for
December delivery trended 1.25 to 11.25 cents per bushel lower than last
Wednesday's noon bids. Lower Kansas City March wheat futures weighed on
bids. Several exporters raised their basis during the week which offered
support to the cash bids and some other exporters were not issuing bids
for nearby delivery. On Thursday, bids were as follows: December
7.8525-8.0025, mostly 7.9225; January 7.9525-8.0025; February 7.9225-
8.0525 and March 7.9525-8.1125.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern
Spring Wheat for December Portland delivery trended 17.50 cents per
bushel lower than last Wednesday's noon bids in reaction to the lower
Minneapolis March wheat futures. Some exporters were not issuing bids
for December delivery. On Thursday, bids for non-guaranteed 14 percent
protein were as follows: December 8.1925-8.2425, mostly 8.2125; January
8.1425-8.2925; February and March 8.1425-8.3025.
There were 21 grain vessels in Columbia River ports on Thursday,
December 5, with five docked compared to 20 last Wednesday with four
docked. New confirmed export sales this week were possibly to Taiwan.
Taiwan purchased 60,000 metric tons of US yellow corn for either February
6-20 shipment from the US Gulf or February 21 to March 7 shipment from
the Pacific Northwest.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022