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                                                     November 11, 2025
                                                                  
                                   Portland Price Trends
                 11-01-24    01-01-25    10-01-25    11-04-25   11-11-25
#1 SWW (bus)        6.00        5.90        5.80        5.95       5.90
White Club          6.15        6.05        6.15        6.30       6.25
DNS 14%             6.75        6.71        6.27        6.42       6.52
HRW 11.5%           6.42        6.33        5.65        6.01       5.97
#2 Corn (ton)     209.00      224.00      196.00      200.00     201.00
#2 Barley         150.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast white wheat markets trended sideways in early-week
trade, as all markets await fresh USDA data at the end of the week. Soft
white wheat bids showed basis holding about a dime about last week, with 
modest carries posted into January. Dark northern spring wheat bids show
exporter interest in acquiring nearby deliveries, as basis has increased
over the past week and bid structures show flat prices in March 2026.
   Shipments...Weekly export inspections showed another moderate week of
wheat movement off U.S. ports, coming in at 10.6 million bushels. Total
shipments to date stand at 445 million bushels, which is 19% ahead of a
year ago. Hard red spring wheat registered 3.8 million bushels, hard red
winter was at 3.7 million and white wheat moved 2 million bushels. West
coast exporters shipped 6 million bushels of wheat, going mostly to The
Philippines, along with nearly 19 million bushels of corn.
      
                                  - Norm Ruhoff  Contributing Analyst

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