June 23, 2026
                                                                  
                                   Portland Price Trends
                 06-01-25    08-01-25    05-01-26    06-16-26   06-23-26
#1 SWW (bus)        6.15        6.15        6.30        6.30       6.40
White Club          6.30        6.30        6.65        6.65       6.75
DNS 14%             6.97        6.41        7.64        6.79       6.59
HRW 11.5%           5.85        5.88        7.34        6.68       6.54         
      
#2 Corn (ton)     208.00      190.00      215.00      198.00     196.00
#2 Barley         170.00      170.00      160.00      165.00     165.00
 
   Wheat...West coast white wheat bids held steady in early-week trade,
despite a third straight session of lower Chicago futures. As a result,
nearby basis has strengthened to nearly 50 cents over the July contract,
with bids posted flat into 2027. Relative declines across Kansas City
and MIAX contracts have dark northern spring back to within a nickel of
cash hard red winter prices. 
   Crop Progress...Warm and dry conditions over the past week nipped the
Pacific Northwest winter wheat crop, as the three-state index dropped 3
points to 98% of average. Good to excellent ratings for Idaho slipped 3%
to 79% and Washington lost 7% to 65%. Oregon showed a 9 point decline to
33%, with poor to very poor climbing to nearly 30%. Spring wheat ratings
showed Idaho dropping 1 point to 75% good to excellent with Washington
off 4 points to 61%.
   Shipments...Weekly export inspections showed an improved pace for U.S.
wheat shipments, coming in at 14.4 million bushels to put current year
loadings at 35.6 million bushels and 15% ahead of a year ago. Hard red
spring wheat moved 6.5 million bushels, followed by hard red winter with
3.8 million and white wheat with 2.1 million. West coast exporters moved
out 9.4 million bushels of wheat, mostly to the Philippines and Japan,
along with 24 million bushels of corn.

                                  - Norm Ruhoff  Contributing Analyst

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