May 29, 2026
                                                                  
                                   Portland Price Trends
                 05-01-25    08-01-25    04-01-26    05-22-26   05-29-26
#1 SWW (bus)        6.25        6.15        6.20        6.55       6.40
White Club          6.40        6.30        6.55        6.90       6.75
DNS 14%             6.60        6.41        7.12        7.22       6.93
HRW 11.5%           5.62        5.88        6.64        7.46       7.26         
      
#2 Corn (ton)     218.00      190.00      204.00      213.00     206.00
#2 Barley         170.00      170.00      160.00      165.00     165.00
 
   Wheat...The retreat across the wheat futures complex weighed on west
coast cash wheat bids this week, but white wheat fared a bit better than 
the protein wheats as exporters firmed-up the nearby basis. Basis between
Portland soft white wheat and Chicago July futures strengthened more than
40 cents from the lows posted last week. Winter wheat ratings for the PNW 
saw the 3-state index slip a point to 103% of average as the recent warm
temperatures cut into the crop.
   Weekly Sales...The seasonal roll of old crop to new crop wheat sales
was in full force over the past week, as nearly 30 million bushels of
old crop commitments were rolled into next marketing year. Net numbers
showed a 9.2 million bushels increase in commitments. With adjustments,
commitments for the current year slipped to 891 million bushels, which
sets 14% above a year ago and 16% ahead of the five-year average pace.
Commitments for the 2026/27 marketing year are at 113 million bushels,
which is 37% below a year ago. Top buyers last week included Japan, The
Philippines and Mexico. 

                                  - Norm Ruhoff  Contributing Analyst

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