April 28, 2026
                                                                  
                                   Portland Price Trends
                 04-01-25    08-01-25    03-01-26    04-21-26   04-28-26
#1 SWW (bus)        6.15        6.15        6.05        6.15       6.40
White Club          6.30        6.30        6.40        6.50       6.75
DNS 14%             6.56        6.41        6.90        7.32       7.67
HRW 11.5%           6.02        5.88        6.35        6.87       7.38         
      
#2 Corn (ton)     212.00      190.00      208.00      206.00     210.00
#2 Barley         170.00      170.00      160.00      160.00     160.00
 
   Wheat...The surge across the wheat futures complex on Tuesday was 
primarily reflected in the red wheat cash bids, as white wheat remained
defensive against higher Chicago futures. Exporters trimmed spot basis
on all the wheats, but white wheat basis weakened more than 20 cents
since last week and is currently bid at minus 12 cents. Weaker demand
and excellent winter wheat potential are weighing on the market.  
   Crop Progress...Declining winter wheat conditions in Oregon weighed
on the three-state index, which slipped a point from last week to 107%
of average. Poor to very poor ratings jumped 8% for Oregon, but the good
to excellent for Washington held at a stellar 92% and Idaho dropped a
point out of that category to 87%. Spring wheat plantings show Idaho at
69% complete and Washington at 76%, both ahead of average.
   Shipments...Weekly export inspections showed a slower pace of wheat
movement off U.S. ports last week, coming in at 13.4 million bushels to
put year-to-date loadings 12% ahead of a year ago at 803 million bushels.
Hard red spring was the top mover with 5.2 million bushels, followed by
soft white with 4.1 million and hard red winter with 2.5 million. Export
loadings off the PNW showed 9.6 million bushels of wheat shipped, going
mostly to Japan and The Philippines, along with 13.7 million bushels of
corn and 4.1 million of soybeans. 

                                - Norm Ruhoff  Contributing Analyst

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