Portland, OR Thu Sep 19, 2013 USDA Market News
Portland Weekly Grain Review Part 1
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for September
delivery ended the reporting week on Thursday, September 19 mixed,
compared to week ago bids. Soft white wheat bids were lower, and hard
red winter wheat moved fractionally higher, while dark northern spring
wheat bids were not available.
December wheat futures ended the reporting week on Thursday,
September 19, mixed as follows compared to last Thursday's closes:
Chicago four cents higher at 6.57, Kansas City 0.25 of a cent higher at
7.02 and Minneapolis wheat futures trended 6.25 cents lower at 7.0850.
Chicago December corn futures trended 6.75 cents lower at 4.5950 while
November soybean futures closed 56.50 cents lower at 13.3950. Soybean
futures were sharply lower in reaction to commercial and fund selling.
Spill-over pressure from lower soybeans weighed on corn futures and
lower row crop markets pressured the wheat futures, along with a lower
US Dollar against foreign currencies.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains
or barges during September were 3.00 to 21.00 cents per bushel lower
than last Thursday's noon bids for September delivery. Some exporters
were not issuing bids for nearby delivery.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for
September delivery trended 0.25 of a cent per bushel higher compared to
last Thursday's bids for the same delivery period. Fractionally higher
Kansas City December wheat futures supported cash bids. On Thursday,
bids were as follows: September 8.12-8.22, mostly 8.20; October and
November 8.17-8.27; December 8.22-8.27; and January 8.17-8.24.
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern
Spring Wheat for September Portland delivery were not available as most
exporters were not issuing bids for nearby delivery. On Thursday, bids
for non-guaranteed 14 percent protein were as follows: September not
available; October 8.0850-8.2350; November 7.9850-8.3350; December
8.0850-8.3850; and January 8.0975-8.3975.
There were 17 grain vessels in Columbia River ports on Thursday,
September 19, with six docked compared to 14 last Thursday with four
docked. New confirmed export sales this week were limited to Japan.
Japan purchased the following wheat in metric tons: 21,011 of US
western white wheat and 20,520 of hard red winter wheat for shipment
between October 21 to November 20 and 21,300 of US dark northern spring
wheat for arrival by December 31.
Source: USDA Market News, Portland, OR
Tiffany Smit 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022