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                                                     July 1, 2025
                                                                  
                                   Portland Price Trends
                 07-01-24    08-01-24    06-01-25    06-24-25   07-01-25
#1 SWW (bus)        6.10        5.65        6.25        6.25       6.15
White Club          6.10        5.65        6.40        6.40       6.30
DNS 14%             7.02        6.58        6.60        7.07       6.88
HRW 11.5%           6.39        6.04        5.62        5.90       5.82
#2 Corn (ton)     201.00      199.00      218.00      201.00     195.00
#2 Barley         160.00      150.00      170.00      170.00     170.00
 
   Wheat...West coast cash wheat bids started at the lower end of recent
price ranges, with white wheat basis somewhat defensive against the early-
week rebound in Chicago futures. Bid structures remain flat for all three
wheat classes, with the protein wheats seeing modest carries post beyond
September delivery.
   Crop Progress...Warm and dry conditions nipped winter wheat conditions
across the Pacific Northwest last week, most notably in Oregon. The three-
state weighted crop index slipped for the third straight week, dropping a
point to 95% of average. Idaho good to excellent ratings slipped 2 points
to 62%, Oregon dropped 9 points to 46% while Washington posted a 1% gain
to settle at 63% for the week. Oregon winter wheat harvest is underway. 
   Shipments...Weekly export inspections showed an uptick in the pace of
wheat loadings last week, coming in at 16 million bushels to put current
year shipments 8% behind a year ago at 47 million bushels. Top mover was
hard red winter with 7.8 million bushels, followed by hard red spring at
4.3 million and soft white with 1.7 million.  West coast exporters moved
5.3 million bushels of wheat, going mostly to Indonesia, along with 17.7
million bushels of corn.
                                   - Norm Ruhoff  Contributing Analyst

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