Portland, OR Thu Jul 11, 2013 USDA Market News
Portland Weekly Grain Review Part 1
Pacific Northwest Weekly Grain Summary
Pacific Northwest Market Summary: Cash wheat bids for June delivery
ended the reporting week on Thursday, July 11, mixed compared to week
ago bids. Bids for soft white wheat were higher, hard red winter wheat
trended mixed and dark northern spring wheat bids moved lower.
September wheat futures ended the reporting week on Thursday, July
11, mixed, as follows compared to last Wednesday's closes: Chicago 18
cents higher at 6.83, Kansas City 14 cents higher at 7.0850 and
Minneapolis wheat futures trended three cents lower at 7.6725. Chicago
September corn futures trended 28.50 cents higher at 5.6075 while July
soybean futures closed 17.75 cents higher at 16.0125. Most grain
futures were higher for the week. Wheat futures were supported by
strong export demand, wet weather delaying harvest and potentially
damaging the wheat crop, a higher-than-expected inspected-for-export
figure of 25.6 million bushels (mb) for the week ending July 4 and
spillover support from higher corn futures on Tuesday and Wednesday.
Supportive factors to the corn futures were strong demand; limited old
crop supplies; hot and dry weather in Nebraska, Kansas, Missouri and
Southern Iowa; purchases of US corn by Mexico and China; short
covering; more moisture coming to growing areas that were already too
wet and higher outside markets. Tight old crop supplies; strong demand
for US soybeans, with China purchasing a total of 255,000 metric tons
and adverse weather conditions with flooding in the soybean growing
areas of the eastern Midwest; dryness in Mississippi, Arkansas and
Louisiana growing areas and crop stressing high temperatures in
Nebraska and Texas growing areas.
Bids for US 1 Soft White Wheat delivered to Portland in unit trains
or barges during July were 23 cents per bushel higher than last
Wednesday's noon bids for July delivery.
Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for first
half July delivery trended mixed, from 11 cents lower to 14 cents per
bushel higher and last half July delivery trended nine to 19 cents per
bushel higher compared to last Wednesday's noon bids for the same time
periods. Higher Kansas City September wheat futures supported the cash
bids, however a lower basis bid by some exporters pressured cash bids.
On Thursday, bids were as follows: first half July 8.0850-8.2850,
mostly 8.1850; last half July 8.0850-8.01350 mostly 8.1050; August New
Crop 7.9850-8.0850; September 8.0350-8.0850; October 8.1625-8.2125 and
Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern
Spring Wheat for July Portland delivery trended three cents per bushel
lower compared with last week's noon bids for July delivery in lining up
with the lower Minneapolis September wheat futures. Protein scales for
non-guaranteed 14.0 percent protein were plus zero cents each 1/4 of a
percent of protein up to 16 percent protein and minus four to five
cents each 1/4 of a percent of protein down to 13 percent protein. On
Thursday, bids for non-guaranteed 14 percent protein were as follows:
July 8.6725-8.7725, mostly 8.7525; August New Crop 8.6225-8.7725;
September 8.5725-8.7725; October 8.6375-8.8375 and November 8.6875-
There were seven grain vessels in Columbia River ports on Thursday,
July 11, with three docked compared to six last Thursday with two
docked. New confirmed export sales this week were limited to Japan.
Japan purchased the following US wheat in metric tons for arrival by
September 30: 23,963 of white club wheat and 1,710 of soft red winter
Source: USDA Market News, Portland, OR
Niki Davila 503-326-2237 Portland.LPGMN@ams.usda.gov
24 hour price information 503-326-2022
Portland , OR Weekly Grain Review - Part 1 (Thu)
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