Portland Grain Review 05/04

May 4, 2023 Portland Price Trends 05-01-22 08-01-22 04-01-23 04-27-23 05-04-23 #1 SWW (bu) 11.10 9.00 7.65 7.20 7.25 White Club 11.60 9.00 7.65 7.20 7.25 DNS 14% 12.08 10.08 9.77 8.85 8.97 HRW 11.5% 12.48 10.00 10.05 8.70 9.18 #2 Corn (ton) 347.00 279.00 289.00 264.00 275.00 #2 Barley 275.00 235.00 240.00 220.00 220.00 Wheat...The late-week rebound in the futures complex gave west coast wheat markets some footing, as cash bids bounced from recent multi-year lows. The big week-to-week gainer was hard red winter, which saw prices recover nearly 50 cents from a week ago. New crop bids for August showed white wheat at $7.10, hard red winter at $8.71 and dark northern spring wheat at $8.97. Weekly Sales...USDA showed the retreat in U.S. wheat prices attracted some buying interest as weekly export sales came in at a combined 18 mb for old and new crop positions. Old crop sales of 7.8 mb put the current year total at 694 mb, which is 3% behind a year ago and 19% behind the 5- year average pace. Soft red winter generated 2.5 mb in sales and with 107 mb in commitments, sets 1% ahead of a year ago and 10% above average. Hard red spring garnered 2.4 mb, putting sales at 211 mb which is 5% ahead of a year ago but 15% below average. Hard red winter booked 2 mb and soft white saw only 200,000 bushels in old crop business. New crop sales of 10.2 mb put that total at 47 mb vs 84 mb a year ago, and soft red winter accounts for about half of the current new crop commitments. -Norm Ruhoff Contributing Analyst Copyright 2023 DTN/Telvent. All Rights Reserved.