February 25, 2025
                                                                  
                                   Portland Price Trends
                 01-01-24    08-01-24    01-01-25    02-18-25   02-25-25
#1 SWW (bus)        6.65        5.65        5.90        6.30       6.10
White Club          7.15        5.65        6.05        6.45       6.25
DNS 14%             8.03        6.58        6.71        7.08       6.95
HRW 11.5%           6.97        6.04        6.33        6.77       6.45
#2 Corn (ton)     232.00      199.00      224.00      236.00     230.00
#2 Barley         180.00      150.00      150.00      150.00     150.00
 
   Wheat...West coast cash wheat bids continued to drift lower in tandem 
with declines across the futures complex in early week trade. Spot basis
for all the wheats also remained defensive, with white wheat slipping to
24 over Chicago, hard red winter dropping another dime to 40 over the KC
futures and dark northern spring also off a dime at 65 over Minneapolis.
Bid structures also show carries posted in the cash markets.
   Shipments...Weekly export inspections showed a modest uptick in wheat
shipments last week, coming in at 13.7 million bushels to put year-to-date
totals at 559 million bushels, which is 21% ahead of the same period for
a year ago.  Hard red spring was top shipper with 4 million bushels, hard
red winter registered 2.6 million and white wheat moved 2.2 million. West
coast exporters loaded nearly 6 million bushels of wheat, going mostly to
South Korea, along with 11 million bushels of corn going to South Korea
and Japan.

                                    - Norm Ruhoff  Contributing Analyst

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