December 2, 2025
                                                                  
                                   Portland Price Trends
                 12-01-24    01-01-25    11-01-25    11-25-25   12-02-25
#1 SWW (bus)        5.95        5.90        5.95        6.05       6.15
White Club          6.10        6.05        6.30        6.40       6.50
DNS 14%             6.67        6.71        6.43        6.51       6.55
HRW 11.5%           6.16        6.33        6.07        5.85       5.98
#2 Corn (ton)     212.00      224.00      200.00      204.00     206.00
#2 Barley         150.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast white wheat bids opened the week on a firmer note,
with prices climbing to the $6.15 level for the first time since early
August. In the process, spot basis also strengthened to about 75 over 
Chicago March futures which has doubled over the past few weeks. Light 
farm selling interest and recent export demand has been supportive for
white wheat. Pacific Northwest wheat producing regions are seeing the 
first measurable snowfall of the year this week. 
   Shipments...Weekly export inspections showed 14.1 million bushels of
wheat shipped off U.S. ports last week, putting the year-to-date total
at 486 million bushels and 20% ahead of a year ago. Hard red winter was
the big mover with 6.7 million bushels, followed by hard red spring at
1.9 million and soft white with 1.8 million. West coast loading activity
showed 6.4 million bushels of wheat shipped, with Vietnam being the top
destination. Exporters also loaded 18.9 million bushels of corn, going
mostly to Japan. 
  
                                 - Norm Ruhoff  Contributing Analyst

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