January 20, 2026
                                                                  
                                   Portland Price Trends
                 01-01-25    08-01-25    12-01-25    01-13-26   01-20-26
#1 SWW (bus)        5.90        6.15        6.10        5.90       5.90
White Club          6.05        6.30        6.45        6.25       6.25
DNS 14%             6.71        6.41        6.51        6.46       6.43
HRW 11.5%           6.33        5.88        5.87        5.92       5.93
#2 Corn (ton)     224.00      190.00      200.00      210.00     206.00
#2 Barley         170.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast cash wheat markets opened the week with bids hovering
near week-ago levels, with white wheat basis strengthening against a retreat
in Chicago futures. With the exception of dark northern spring, cash wheat
bids are mostly flat into March. Pacific Northwest weather remains stagnant
with seasonal temperatures, limited precipitation and no snow cover.
   Shipments...Weekly export inspections showed a modest improvement for
wheat movement off U.S. ports last week, coming in at 14.4 million bushels
to put year-to-date shipments at 586 million, which is 19% ahead of a year
ago. Hard red spring registered 4.3 million bushels, hard red winter was at
3.3 million and soft white moved 2.6 million. West coast exporter activity
showed the emphasis remained on row crop movement, with 6.6 million bushels
of wheat loaded mostly to Japan, along with 21 million bushels of corn and
nearly 10 million bushels of soybeans.

                                   - Norm Ruhoff  Contributing Analyst

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