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                                                      October 12, 2021
                                                                  
                                   Portland Price Trends
                 10-01-20    01-01-20    09-01-21    10-05-21   10-12-21
#1 SWW (bu)         5.70        6.65       10.85        9.75      10.55
White Club          6.05        6.65       12.85       11.75      12.55
DNS 14%             6.53        7.14       10.34       10.66      10.80
HRW 11.5%           6.46        7.38        8.64        9.04       9.00
#2 Corn (ton)     168.00      211.00      242.00      252.00     248.00
#2 Barley         130.00      145.00      240.00      240.00     240.00

   Wheat...West coast white wheat markets showed prices holding recent
gains, recovering from the recent setback.  Hard red winter and springs
are also holding near the top end of the trading range for this year and
all markets are bid mostly flat going out three months.
   Shipments...Weekly export inspections showed a slower pace of export
loadings for U.S. wheat last week, coming in at 15.9 mb to put the year-
to-date total at 337 mb, which stands 12% below a year ago.  Top shipper
was hard red winter with 7.1 mb, followed by hard red spring with 3.1 mb
and soft white at 1.8 mb.  Top destination off the west coast was Japan
with 4.6 mb, followed by Taiwan taking 1.2 mb.
   Crop Report...USDA tightened the U.S. wheat balance sheet 35 mb from
last month, as production and domestic use were trimmed along with lower
imports.  White wheat stocks saw a 1 mb increase but the stocks-to-use
ratio remains at the low end of the historical range.
    
                                   -Norm Ruhoff  Contributing Analyst

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