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River Valley MFA

 

 
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                                                       June 25, 2019
                                                                  
                                   Portland Price Trends
                 06-01-18    08-01-18    05-01-19    06-18-19   06-25-19
#1 SWW (bu)         6.05        6.05        5.67        6.17       6.15
White Club          6.05        6.05        5.67        6.17       6.15
DNS 14%             7.49        7.08        6.12        6.32       6.37
HRW 11.5%           6.71        6.89        5.70        5.90       5.88
#2 Corn (ton)     178.00      160.00      168.00      198.00     194.00
#2 Barley         155.00      140.00      140.00      140.00     140.00

   Wheat...Early-week trade on the west coast showed all three classes of
wheat holding in-line with a week ago.  Exporter bids rolled to September
futures and all markets are showing bids posted flat into September. 
   Shipments...Weekly export inspections showed a solid week of loadings
for hard red winter wheat, coming in at 8.3 mb.  Overall shipments were
just under 15 mb for the week to put year-to-date movement at 450 mb and
6% ahead of a year ago. Hard red spring registered 4.6 mb and soft white
saw 1.2 mb moved off the west coast.  Top destinations off the PNW were
Japan with 2.1 mb and Taiwan at 1.9 mb.  Both El Salvador and Guatemala
took 1.8 mb each.
   Crop Progress...Recent moisture was reflected in improved ratings for
the Pacific Northwest winter wheat crop, pulling the three-state index up
2% to 102% of average.  Gains were most notable for Washingtion where the
good-excellent jumped 7% to 77% and Oregon by a like amount to 68%. Idaho
conditions remain well behind average, as good to excellent on the winter
wheat slipped 6% to 64% and spring wheat index stands at 89% of average. 
   
                                      -Norm Ruhoff  Contributing Analyst

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