September 18, 2025
                                                                  
                                   Portland Price Trends
                 09-01-24    01-01-25    08-01-25    09-11-25   09-18-25
#1 SWW (bus)        5.65        5.90        6.15        5.85       5.95
White Club          5.80        6.05        6.30        6.20       6.30
DNS 14%             6.60        6.71        6.93        6.39       6.44
HRW 11.5%           6.10        6.33        5.86        5.76       5.83
#2 Corn (ton)     197.00      224.00      193.00      201.00     202.00
#2 Barley         150.00      170.00      170.00      170.00     170.00
 
   Wheat...West coast cash wheat bids caught a modest uptick this week,
following a higher but narrow trading range across the futures complex.
White wheat did record a relatively strong week of export demand, coming
primarily from The Philippines and Indonesia.
   Weekly Sales...USDA revealed a slightly better week of export demand,
coming in 12% below the four-week average at 13.9 million bushels. Wheat
commitments stand at 481 million bushels, which is 19% ahead of a year
ago and 23% above the five-year average pace. White wheat was top seller
with 6 million bushels, putting sales at 90 million which sets 11% below
a year ago but 9% above average. Hard red spring sold 3.2 million bushels
to put commitments at 120 million, which is 12% below a year ago but in
line with the average pace. Hard red winter booked 2.2 million bushels
and with 195 million in commitments, sets more than double a year ago and
65% above average.
   Top Buyers...The Philippines was the top U.S. wheat buyer last week on 
a booking for 6.8 million bushels, followed by Nigeria with 3.8 million,
Mexico with 3.5 million and Indonesia with 2.3 million. U.S. wheat sales 
to Indonesia stand at 24.3 million bushels, up 50% from a year ago.
                              
                                  - Norm Ruhoff  Contributing Analyst

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