July 10, 2025
                                                                  
                                   Portland Price Trends
                 07-01-24    08-01-24    06-01-25    07-03-25   07-10-25
#1 SWW (bus)        6.10        5.65        6.25        6.25       6.15
White Club          6.10        5.65        6.40        6.40       6.30
DNS 14%             7.02        6.58        6.60        7.12       6.94
HRW 11.5%           6.39        6.04        5.62        5.94       5.88
#2 Corn (ton)     201.00      199.00      218.00      196.00     195.00
#2 Barley         160.00      150.00      170.00      170.00     170.00
 
   Wheat...The recent swoon in U.S. wheat prices has attracted interest
from global buyers, as weekly export sales showed another good week for
export demand. Hard red winter wheat continues to rebound and soft white
and red spring also posted good numbers this week. Basis levels remained
steady through the week for all three classes of wheat.
   Weekly Sales...USDA reported another relatively strong week of export
demand for U.S. wheat, coming in at nearly 21 million bushels to put the
year-to-date total at 285 million, which is 8% ahead of a year ago and 21%
above the five-year average pace.  Hard red winter booked 7.4 million and
with 107 million bushels in commitments, sets 67% ahead of a year ago and
54% above average. Hard red spring registered 6.5 million bushels to put
sales at 83 million, which is 8% behind a year ago but 14% above average.
White wheat sold 4.1 million bushels and with 42 million in commitments,
sets 31% behind a year ago and 12% below average. 
   Top Buyers...South Korea topped the list of U.S. wheat buyers over the
past week with 3.3 million bushels, followed by Japan with 2.4 million.
Rounding out the top five were Mexico, Malaysia and The Philippines with
each booking about 2 million bushels.
   
                                  - Norm Ruhoff  Contributing Analyst

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