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MFA Incorporated 201 Ray Young Drive Columbia, MO 65201 573-874-5111 |
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September 19, 2024
Portland Price Trends
09-01-23 01-01-24 08-01-24 09-12-24 09-19-24
#1 SWW (bus) 6.80 6.65 5.65 5.95 5.85
White Club 7.05 7.15 5.65 6.10 6.00
DNS 14% 8.10 8.03 6.58 6.87 6.73
HRW 11.5% 7.43 6.97 6.04 6.41 6.19
#2 Corn (ton) 246.00 232.00 199.00 200.00 205.00
#2 Barley 200.00 180.00 150.00 150.00 150.00
Wheat...West coast white wheat bids held ground against modest declines
in Chicago futures on Thursday, strengthening nearby basis levels a dime.
Recent white wheat donation sales have given the white wheat market better
footing, while the protein wheats drift with futures as export demand has
waned, particularly for hard red winter wheat.
Weekly Sales...USDA showed a weaker pace of export demand over the past
week, as sales came in nearly 50% below the four-week average at 9.1 mbus.
Year-to-date commitments of 405 mbus stand 32% ahead of a year ago and 1%
above the five-year average pace. Hard red spring was top seller with 5.5
mbus, putting sales at 136 mbus which is 24% ahead of a year ago and 16%
above average. White wheat garnered 1.4 mbus and with 101 mbus committed,
sets 63% ahead of a year ago and 29% above average. Hard red winter saw a
net loss for the week and with 96 mbus in commitments is running 74% above
a year ago but 28% below average.
Top Buyers...Mexico and The Philippines both secured 2.1 mbus of wheat
last week and Thailand booked 1.9 mbus. Rounding-out the top five buyers
were Vietnam and Haiti, with each purchasing just over 1 mbus.
-Norm Ruhoff Contributing Analyst
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