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                                                      September 28, 2021
                                                                  
                                   Portland Price Trends
                 09-01-20    01-01-20    08-01-21    09-21-21   09-28-21
#1 SWW (bu)         5.35        6.65        9.25       10.85       9.75
White Club          5.70        6.65       10.75       12.85      11.75
DNS 14%             6.51        7.14       10.33       10.19      10.47
HRW 11.5%           6.20        7.38        8.33        8.47       8.71
#2 Corn (ton)     163.00      211.00      246.00      247.00     245.00
#2 Barley         130.00      145.00      200.00      240.00     240.00

   Wheat...West coast white wheat markets came under heavy pressure as 
the week got underway, with historically strong basis levels triggering
an unwinding of commercial short hedges.  Exporters encountered heavy 
cash selling and pulled bids back more than a dollar per bushel.  Cash
markets for protein wheats were higher on gains in respective futures.
   Shipments...Weekly export inspections showed a more subdued pace of
export loadings for U.S. wheat last week, coming in at about half of the
prior week at 10.5 mb.  Year-to-date shipments stand at 294 mb, which is
running 13% below a year ago.  Top shipper was hard red winter with 4.3
mb, followed by soft white with 2.6 mb and red spring with 1.6 mb.  Top
destinations off the west coast were Thailand and Yemen.
   Crop Progress...Winter wheat plantings advanced across the PNW over 
the past week, picking up pace ahead of forecasted rainfall and cooler
temperatures for this week. Idaho planting progress is 14% ahead of the
five-year average at 54% complete, Washington is running 7% better than
the average at 60%, while Oregon is 13% behind average at 10% planted.
    
                                   -Norm Ruhoff  Contributing Analyst

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