November 20, 2025
                                                                  
                                   Portland Price Trends
                 11-01-24    01-01-25    10-01-25    11-13-25   11-20-25
#1 SWW (bus)        6.00        5.90        5.80        5.95       6.05
White Club          6.15        6.05        6.15        6.30       6.40
DNS 14%             6.75        6.71        6.27        6.55       6.55
HRW 11.5%           6.42        6.33        5.65        6.01       5.85
#2 Corn (ton)     209.00      224.00      196.00      202.00     205.00
#2 Barley         150.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast white wheat prices showed some independent strength
this week as USDA revealed solid export demand from early October, along
with confirmation of a Chinese purchase this week. Wire services showed a
sale of nearly 5 million bushels of white wheat to China last night. As 
a result, spot basis recovered nearly 20 cents from an early week swoon.
   Weekly Sales...USDA released the first official tally of export demand
for wheat in nearly two months, showing a total 32.6 million bushels was
booked for the week ending October 2nd. This put total commitments at 545
million bushels, which stand 23% ahead of a year ago and 27% ahead of the
five-year average pace. Top seller was soft white wheat with 15.6 million
bushels and with 116 million in commitments, now sets on par with a year
ago and 23% above average. Hard red winter booked 11.8 mb to put sales at
215 million bushels, which is more than double a year ago and 69% above 
average. Hard red spring garnered 4.2 million bushels and with 133 million
in commitments, sets 8% behind a year ago but 1% above average.
   Top Wheat Buyers...Unknown was the top U.S. wheat buyer for week-ended
October 2 with 8.6 million bushels, followed by Bangladesh buying 4 million
bushels of white wheat, Mexico with 3.9 million of mostly hard red winter,
Thailand with 3.1 million bushels and Taiwan with 2.9 million bushels.
      
                                  - Norm Ruhoff  Contributing Analyst

                    Copyright  2025 DTN.  All Rights Reserved.