Portland Grain Review 01/27

January 27, 2022 Portland Price Trends 01-01-20 08-01-21 12-01-21 01-20-22 01-27-22 #1 SWW (bu) 6.65 9.25 10.65 11.00 10.75 White Club 6.65 10.75 12.65 12.75 12.50 DNS 14% 7.14 10.33 11.30 10.55 10.12 HRW 11.5% 7.38 8.33 9.83 9.96 9.93 #2 Corn (ton) 211.00 251.00 269.00 287.00 292.00 #2 Barley 145.00 200.00 240.00 240.00 240.00 Wheat...West coast white wheat markets saw a modest retreat this week as exporters completed the offer on the 3 mb CCC donation tender. Spot basis for white wheat moved within a 20 cent range this week against movement in Chicago futures, but closed near 300 over Chicago futures today. Weekly Sales...USDA reported a resurgence in export demand for US wheat last week, as buying set a marketing year high of nearly 25 mb. This puts year-to-date commitments at 632 mb, which sets 21% behind a year ago and 17% behind the five-year average pace. Top seller was hard red winter with 10.3 mb, putting sales 8% below a year ago and 11% behind average at 249 mb. Hard red spring booked 7.3 mb to put sales at 170 mb, which is 28% behind a year ago and 24% below average. Soft white garnered 4 mb to put commitments at 112 mb, which stands 47% behind last year's record pace and 32% behind average. Soft red winter also saw another relatively good week with 3.2 mb and with 95 mb in sales, sets 61% ahead of a year ago and 28% above average. Top Buyers...The Philippines and Nigeria were the big buyers, with each committing to another 4 mb. This was followed by Japan with 3.8 mb, Mexico with 2.9 mb and South Korea buying 2.8 mb. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.