October 22, 2026
                                                                  
                                   Portland Price Trends
                 10-01-25    08-01-25    09-01-26    10-15-26   10-22-26
#1 SWW (bus)        5.80        6.15        6.95        6.50       6.25
White Club          6.15        6.30        7.45        7.00       6.75
DNS 14%             6.27        6.41        8.07        7.31       6.80
HRW 11.5%           5.65        5.88        8.65        7.48       7.04         
    
#2 Corn (ton)     196.00      190.00      251.00      228.00     225.00
#2 Barley         160.00      170.00      170.00      170.00     170.00
 
   Wheat...Chicago wheat futures have dropped about $1.50 per bushel since
early September while Portland cash white wheat prices have declined about
70 cents, resulting in an 80 cent strengthening of that basis. With nearby
white wheat basis now back to about even money with Chicago, producers who
locked in hedge-to-arrive contracts were lifting some of those hedges this
week for a coast price near $7.75 per bushel. By comparison, basis levels
for dark northern spring and hard red winter strengthened by only 5 and 
15 cents, respectively, reflective of the better pace of export demand for
white wheat and limited producer selling on the cash side of the market.
   Weekly Sales...Export demand for U.S. wheat declined for the second
straight week, coming in near a marketing year low at 8.8 million bushels.
Overall commitments stand at 392 million bushels, which is 32% below a
year ago and 16% below the five-year average pace. Soft red winter booked
nearly half the total and with 61 million bushels in commitments, sets 21%
below a year ago and 24% below average. White wheat garnered 1.9 million
bushels and with 119 million in commitments, sets 4% below a year ago but
17% above average.
   Wheat Buyers...Mexico was the top U.S. wheat buyer last week with 3.6
million bushels, followed by unknown with 1.8 million. Combined sales to
Singapore, South Korea and Japan accounted for nearly 2 million bushels.
   
                                 - Norm Ruhoff  Contributing Analyst

                    Copyright  2026 DTN.  All Rights Reserved.