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                                                      August 11, 2020
                                                                  
                                   Portland Price Trends
                 08-01-19    01-01-20    07-01-20    08-04-20   08-11-20
#1 SWW (bu)         5.90        6.15        5.80        5.50       5.50
White Club          5.90        7.65        6.30        5.90       5.90
DNS 14%             5.98        7.21        6.57        6.17       6.09
HRW 11.5%           5.36        6.26        5.83        5.62       5.60
#2 Corn (ton)     170.00      172.00      162.00      147.00     147.00
#2 Barley         140.00      140.00      130.00      130.00     130.00

   Wheat...West coast wheat markets remained mostly on par with the prior
week, reflecting seasonal harvest pressure.  Exporter bid structures show
soft white and hard red winter posting only modest carries into deferred
months, while hard red spring has a relatively sharp carry into October.
   Crop Progress...Hot and dry conditions have advanced wheat harvesting
across the Pacific Northwest, with all states reporting good progress over
the past week.  Winter wheat harvest is reported 77% complete in Oregon,
55% in Washington and 35% in Idaho.  Field reports suggest yields running
above average with lower protein levels.  Spring wheat harvest stands at
21% complete in Washington and 21% complete in Idaho.
   Shipments...Weekly export inspections showed a slower pace of loadings
for wheat last week, coming in at 13.9 mb to put year-to-date shipments at
18.6 mb and slightly ahead of a year ago.  Top shipper was hard red winter
with 6.5 mb, followed by hard red spring at 3.5 mb and soft white with 1.6
mb.  Top destinations off the west coast included Japan with 3.2 mb, China
with 2.3 mb and the Philippines taking 2.1 mb.

                                       -Norm Ruhoff  Contributing Analyst

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