December 18, 2025
                                                                  
                                   Portland Price Trends
                 12-01-24    01-01-25    11-01-25    12-11-25   12-18-25
#1 SWW (bus)        5.95        5.90        5.95        6.10       5.90
White Club          6.10        6.05        6.30        6.45       6.25
DNS 14%             6.67        6.71        6.43        6.51       6.45
HRW 11.5%           6.16        6.33        6.07        5.85       5.82
#2 Corn (ton)     212.00      224.00      200.00      207.00     201.00
#2 Barley         150.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast cash wheat markets showed protein wheats putting in
a mostly sideways week, while spot soft white wheat prices drifted lower.
Word of a Chinese cancellation on a large white wheat purchase weighed on
the market.
   Weekly Sales...USDA revealed yet another relatively good week of export
demand for U.S. wheat, posting sales of nearly 17 million bushels for the
last week of November. Year-to-date commitments now stand at 696 million
bushels, which is 23% ahead of a year ago and 27% above the 5-year average
pace. White wheat was the top seller with 6.3 million bushels which placed
sales at 158 million, standing 5% ahead of a year ago and 23% above average.
Hard red winter garnered 4.9 million bushels in sales and with 252 million
in commitments sets 94% ahead of a year ago and 58% above average. Hard red
spring booked 3.7 million bushels to put sales at 174 million bushels, which
is 5% behind a year ago but 5% above the average pace.
   Wheat Buyers...Bangladesh was the top buyer, booking 5.3 million bushels 
of hard red winter and white wheat. The Philippines bought 4.5 million and
South Korea purchased 3.5 million, followed by Mexico with 1.8 million.
  
                                    - Norm Ruhoff  Contributing Analyst

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