Portland Grain Review 05/02

May 2, 2023 Portland Price Trends 05-01-22 08-01-22 04-01-23 04-25-23 05-02-23 #1 SWW (bu) 11.10 9.00 7.65 7.15 7.15 White Club 11.60 9.00 7.65 7.15 7.15 DNS 14% 12.08 10.08 9.77 9.19 8.72 HRW 11.5% 12.48 10.00 10.05 9.24 8.68 #2 Corn (ton) 347.00 279.00 289.00 272.00 270.00 #2 Barley 275.00 235.00 240.00 240.00 220.00 Wheat...West coast wheat markets reflected the continued drift across the futures complex, with all cash bids moving toward multi-year lows in early-week trade. For its part, white wheat held at the recent low as the spot basis strengthened 40 cents over the past week relative to Chicago July futures. Old crop to new crop spreads show both white wheat and hard red winter holding premiums to old crop, while dark northern spring bids are near even money. Crop Progress...Warmer temperatures and scattered precipitation were beneficial to Pacific Northwest winter wheat conditions the past week as the three-state crop index climbed 4 points to 90% of average. Good to excellent ratings for Idaho gained 7 points to 35%, Oregon improved 13% to 34% and Washington registed an 11 point gain to 58%. Planting of the spring wheat crop also jumped 30% in Washington to 74%, right on average, and Idaho put in 20% of the crop and sets 20% behind average at 45% in. Shipments...Weekly export inpsections showed U.S. wheat shipments came in right in-line with last week at 13.3 mb. Year-to-date loading stand at 670 mb, which is about 3% behind a year ago. Hard red winter was the top shipper with 5.8 mb, followed by red spring with 3.9 mb. Top destination off the west coast was Egypt, taking on 2 mb. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.