September 16, 2025
                                                                  
                                   Portland Price Trends
                 09-01-24    01-01-25    08-01-25    09-09-25   09-16-25
#1 SWW (bus)        5.65        5.90        6.15        5.90       5.90
White Club          5.80        6.05        6.30        6.25       6.25
DNS 14%             6.60        6.71        6.93        6.44       6.45
HRW 11.5%           6.10        6.33        5.86        5.82       5.90
#2 Corn (ton)     197.00      224.00      193.00      200.00     203.00
#2 Barley         150.00      170.00      170.00      170.00     170.00
 
   Wheat...An early week rebound across the wheat futures complex put a
better footing under west coast cash prices, moving bids back in line
with late last week. USDA acknowledged an improved pace of export demand 
for hard red winter wheat last week, bumping the forecasted U.S. wheat 
export forecast by 25 million bushels to 900 million bushels.   
   Shipments...Weekly export inspections revealed a marked increase in the
pace of U.S. wheat shipments last week, coming in at 27.7 million bushels.
Year-to-date loadings stand at 288 million bushels, which is 12% ahead of
a year ago. Hard red winter and soft white wheat moved 8.4 million bushels
each, followed by hard red spring with 6.6 million. West coast exporters
moved nearly 16 million bushels of wheat, with two-thirds of that going to
Indonesia and South Korea. A total of 7.6 million bushels of corn was also
shipped off the PNW, going to Japan and Taiwan.
   Crop Progress...Washington is reported at 50% complete with winter wheat
planting, followed by Oregon at 13% and Idaho at 12%. Widespread rainfall
was welcomed across the Pacific Northwest over the weekend and should help
improved the pace of plantings.

                                   - Norm Ruhoff  Contributing Analyst

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