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                                                      December 8, 2022
                                                                  
                                   Portland Price Trends
                 12-01-21    01-01-22    11-01-22    12-01-22   12-08-22
#1 SWW (bu)        10.65       10.70        9.10        8.80       8.50
White Club         12.65       12.45        9.60        9.30       9.00
DNS 14%            11.30       10.78       11.10       10.18       9.86
HRW 11.5%           9.83        9.81       10.70       10.10       9.65
#2 Corn (ton)     255.00      274.00      311.00      289.00     287.00
#2 Barley         240.00      240.00      250.00      250.00     250.00

   Wheat...West coast white wheat markets continued to fare better than
the protein wheats this week, as strengthening basis levels helped offset
some of the weakness in Chicago futures.  Recent export demand remains
supportive against limited farm offerings.
   Weekly Sales...USDA reported another week of meager export sales for
U.S. wheat, coming in at 7 mb to put overall commitments at 501 mb which
sets 6% behind a year ago and 14% below the five-year average pace. Hard
red winter registered 2.8 mb for the week to put sales at 136 mb, which
is 36% behind a year ago and 6% below average. White wheat booked 2.5 mb
and with 122 mb in commitments, sets 26% ahead of a year ago but 31% off
the five-year average pace.
   White Wheat Buyers...Year-to-date comparisons for white wheat export
sales show overall totals are running 25 mb ahead of a year ago. On the
list of buyers, Indonesia accounts for 11 mb of the increase, Yemen and
Chile are each up 6 mb, and China has bought 4 mb more than a year ago.
Nigeria is down 6 mb, the Philippines is off 3 mb and Taiwan down 1 mb.

                                   -Norm Ruhoff  Contributing Analyst

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