December 4, 2025
                                                                  
                                   Portland Price Trends
                 12-01-24    01-01-25    11-01-25    11-26-25   12-04-25
#1 SWW (bus)        5.95        5.90        5.95        6.05       6.15
White Club          6.10        6.05        6.30        6.40       6.40
DNS 14%             6.67        6.71        6.43        6.53       6.51
HRW 11.5%           6.16        6.33        6.07        5.90       5.97
#2 Corn (ton)     212.00      224.00      200.00      204.00     204.00
#2 Barley         150.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast white wheat bids etched higher price levels this
week and boosted nearby basis to Chicago futures, drawing support from
recent export demand and limited farm selling interest.
   Weekly Sales...USDA reported average U.S. wheat export demand of 18
million bushels over the last four weeks of October, which placed total
commitments at 617 million bushels, setting 21% ahead of the same time
period for a year ago and 25% above the five-year average pace. Sales of
hard red winter averaged 5.4 million bushels, putting commitments at 237
million bushels which is double last year and 62% above average. Spring
wheat sales averaged 5 million bushels and with 153 million in bookings,
set 9% below a year ago but 3% above average. White wheat averaged 4.3
million bushels, putting commitments at 133 million bushels which sets
on par with a year ago and 19% above average.
   White Wheat Buyers...After trailing last year through this marketing
year, white wheat export demand is back on par with a year-ago through
the end of October. Notable increases have been to Asian buyers, which 
have booked 7% more white wheat than a year ago. Bookings to Bangladesh, 
The Philippines, Indonesia and Vietnam are up, while Central American 
sales are down, primarily due to reductions for Mexico and Chile. 
  
                                 - Norm Ruhoff  Contributing Analyst

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