Portland Grain Review 01/25

January 25, 2024 Portland Price Trends 01-01-23 08-01-23 12-01-23 01-18-24 01-25-24 #1 SWW (bu) 8.55 7.05 6.85 6.40 6.55 White Club 9.00 7.30 7.35 6.90 7.05 DNS 14% 10.14 9.05 7.94 7.73 7.91 HRW 11.5% 10.02 8.24 6.90 6.65 6.89 #2 Corn (ton) 302.00 254.00 238.00 223.00 225.00 #2 Barley 250.00 210.00 180.00 180.00 180.00 Wheat...A modest resurgence across the futures comples helped provide some footing to west coast wheat markets this week, with all classes of wheat showing gains for the week. Renewed export interest provided some support as USDA reported a second straight week of relatively good export demand. Weekly Sales...Weekly export sales showed yet another week of improved export demand for U.S. wheat, coming in near 17 mb to put commitments for the year at 608 mb. This stands 3% ahead of a year ago and 12% below the five-year average pace. Hard red spring was the top seller with 198 mb in new sales, and with 198 mb in commitments sets 13% ahead of a year ago at this time and 1% below average. White wheat saw 3.5 mb in new business, putting sales at 124 mb which is 16% below a year ago and 20% behind the average pace. Hard red winter secured 3.4 mb and with 106 mb in sales is running 34% behind a year ago and 55% below average. Soft red winter saw 3 mb in new demand, putting sales at 163 mb; 77% ahead of a year ago and double the five-year average pace. Top Buyers...Mexico was the top wheat buyer last week with 6.3 mb, the Philippines booked 3.5 mb, Japan took 2.5 mb and Thailand and Bangladesh bought 2 mb each. -Norm Ruhoff Contributing Analyst Copyright 2024 DTN/Telvent. All Rights Reserved.