September 11 2025
                                                                  
                                   Portland Price Trends
                 09-01-24    01-01-25    08-01-25    09-04-25   09-11-25
#1 SWW (bus)        5.65        5.90        6.15        5.90       5.85
White Club          5.80        6.05        6.30        6.25       6.20
DNS 14%             6.60        6.71        6.93        6.41       6.39
HRW 11.5%           6.10        6.33        5.86        5.76       5.76
#2 Corn (ton)     197.00      224.00      193.00      199.00     201.00
#2 Barley         150.00      170.00      170.00      170.00     170.00
 
   Wheat...West coast cash wheat markets put in a mostly sideways week of
price performance, with white wheat prices drifting to the lowest levels
since early January. A setback from recent strong export demand weighed
on all three classes of wheat.
   Weekly Sales...USDA reported another tempered week of export demand
for U.S. wheat, with sales coming in about half the average of the prior
10-week average at 11.2 million bushels. Commitments set at 467 million
bushels, which is 18% ahead of a year ago and 24% above the average pace
of the past 5 years. Hard red spring was the top seller with 4.7 million
bushels, putting commitments 10% below a year ago but 1% above average.
Hard red winter garnered 3.4 million bushels and with 193 million in the
books, sets more than double year-ago levels and 70% above average. Soft
white secured 1.7 million bushels in new demand and with 85 million in
commitments, stands 15% below a year ago but 6% above average.  
   Top Buyers...Japan was the top U.S. wheat buyer last week, buying 2.9
million bushels, followed by Indonesia with 2.6 million, The Philippines
with 1.5 million and Venezuela with 1.2 million. Italy rounded out the 
top five buyers with 660,000 bushels of durum. 
                              
                                  - Norm Ruhoff  Contributing Analyst

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