Portland Grain Review 04/27

April 27, 2021 Portland Price Trends 04-01-20 08-01-20 03-01-21 04-20-21 04-27-21 #1 SWW (bu) 6.10 5.60 7.60 7.30 8.00 White Club 7.60 6.00 7.60 7.30 8.00 DNS 14% 7.04 6.21 7.33 7.71 8.51 HRW 11.5% 6.30 5.71 7.48 7.45 8.35 #2 Corn (ton) 155.00 151.00 221.00 254.00 290.00 #2 Barley 130.00 130.00 170.00 170.00 170.00 Wheat...West coast wheat prices have moved to new multi-year highs as respective futures markets continue to surge. White wheat hit the $8 per bushel mark today for the first time since May 2014, hard red winter hit $8.35 for the first time since spring of 2014 and hard red spring cleared the $8.50 mark for the first time since July 2017. Record low rainfall for April is also taking a toll on the PNW winter wheat crops. Crop Progress...Winter wheat conditions across the Pacific Northwest continue to slip, as the weekly assessment put the three-state index down another point to 95% of normal. While Idaho actually saw good-excellent climb 2% to 57%, poor to very poor held at 11%. Washington saw a drop of 7 points from the category to 60% and Oregon fell 3% to 52%, with poor to very poor up 4% to 13%. A record dry April for the area continues to cut into yield potential. Shipments...Weekly export inspections revealed a big week of shipments for white wheat off the west coast, coming in at 8.7 mb on the shoulders of China taking 6 mb. Hard red spring and winters each registered 4.4 mb to put weekly total at 20.7 mb. Year-to-date wheat shipments now stand slightly ahead of a year ago at 830 mb. -Norm Ruhoff Contributing Analyst Copyright 2021 DTN/Telvent. All Rights Reserved.