January 18, 2022
                                                                  
                                   Portland Price Trends
                 01-01-20    08-01-21    12-01-21    01-11-22   01-18-22
#1 SWW (bu)         6.65        9.25       10.65       10.50      10.90
White Club          6.65       10.75       12.65       12.25      12.65
DNS 14%             7.14       10.33       11.30       10.41      10.05
HRW 11.5%           7.38        8.33        9.83        9.90       9.68
#2 Corn (ton)     211.00      251.00      269.00      281.00     280.00
#2 Barley         145.00      200.00      240.00      240.00     240.00

   Wheat..The recent CCC tender announcement for donation of more than 3 mb
of U.S. white wheat has spurred west coast prices. As is typically seen with
these types of tenders, delivery is fairly prompt and in addition to the new
demand, provides exporters an opportunity to ship higher protein white wheat 
from this past harvest. Bids on the red wheats remain reflective of movement 
in respective futures, gaining from the higher prices being registered today.
   Shipments...Weekly export inspections showed U.S. wheat shipments made
a good rebound over the past week, coming in at 13.5 mb to put year-to-date
loadings at 471 mb and 18% below a year ago.  Hard red winter was the top
shipper with 5.5 mb, followed by hard red spring at 2.8 mb and white wheat
at 2.2 mb.  Vietnam was the top wheat destination off the PNW, taking 2.5
mb, followed by the Philippines and Guatemala.  Japan accounted for most of
the corn shipments off the west coast and China continues to take a large
amount of soybeans from PNW ports.
   
                                       -Norm Ruhoff  Contributing Analyst

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