Portland Grain Review 02/28

February 28, 2023 Portland Price Trends 02-01-22 08-01-22 01-01-23 02-21-23 02-28-23 #1 SWW (bu) 10.75 9.00 8.55 8.45 8.10 White Club 12.50 9.00 9.05 8.45 8.10 DNS 14% 10.25 10.08 10.19 10.09 9.53 HRW 11.5% 9.86 10.00 10.08 10.36 9.56 #2 Corn (ton) 283.00 279.00 302.00 297.00 285.00 #2 Barley 240.00 235.00 250.00 250.00 250.00 Wheat...West coast cash wheat prices were reflective of the drift across the futures complex in early week trade. Even with a 30 cent strengthening of the basis from last week, white wheat moved to a new marketing year low. Protein wheats took the brunt of lower trade in their respective futures as hard red winter slipped 80 cents from last week and red spring wheat saw a decline of more than 50 cents. Shipments...Weekly export inspections showed a strong resurgence in the pace of U.S. wheat exports last week, coming in at 21.7 mb to put the year- to-date total at 560 mb and 1.7% behind a year ago. Hard red spring was the top shipper with 7.9 mb, followed by hard red winter with 7.2 mb and white wheat at 4.9 mb. West coast export activity was clearly focused on wheat as corn and export loadings came to a virtual halt. For wheat, Japan took on 2.6 mb, South Korea and Indonesia each took on 2.5 mb. Another notable was 1.9 mb of wheat being loaded for Iraq. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.