September 29, 2020
                                                                  
                                   Portland Price Trends
                 09-01-19    01-01-20    08-01-20    09-22-20   09-29-20
#1 SWW (bu)         5.70        6.15        5.60        5.50       5.60
White Club          5.70        7.65        6.00        5.88       5.95
DNS 14%             5.67        7.21        6.21        6.59       6.44
HRW 11.5%           5.20        6.26        5.71        6.39       6.21
#2 Corn (ton)     162.00      172.00      151.00      161.00     160.00
#2 Barley         140.00      140.00      130.00      130.00     130.00

   Wheat...West coast white wheat markets continued to show independent
strength in early week trade, as basis levels firm against Chicago. Hard
red winter and spread wheat basis levels remain steady, and reflect the
recent decline in their respective futures markets. Bid structures show
all three cash markets relatively flat over the next 60 days.
   Crop Progress...USDA reported good progress on winter wheat plantings
across the Pacific Northwest over the past week, as long-awaited rainfall
improved conditions.  Idaho sets 5% behind the average pace at 37% sowed,
Oregon lags the average by 10% at 26% complete while Washington sets 3%
behind average at 62% planted.
   Shipments...Weekly export inspections showed an improved pace for U.S.
wheat loadings over the past week, coming in at 20.6 mb to put the year-
to-date total at 338 mb and 8% ahead of a year ago. Top shipper was hard
red winter with 9 mb, followed by hard red spring with 4.7 mb and white
wheat with 3.9 mb.  China was the big taker off the west coast with 4.7
mb followed by the Philippines with 3.1 mb.

                                     -Norm Ruhoff  Contributing Analyst

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