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                                                      June 2, 2020
                                                                  
                                   Portland Price Trends
                 06-01-19    08-01-19    05-01-20    05-26-20   06-02-20
#1 SWW (bu)         6.20        5.90        6.06        6.05       6.05
White Club          6.20        5.90        7.56        7.55       7.30
DNS 14%             6.43        5.98        6.77        6.88       6.79
HRW 11.5%           6.22        5.36        6.33        5.97       6.06
#2 Corn (ton)     182.00      170.00      144.00      140.00     130.00
#2 Barley         140.00      140.00      130.00      153.00     154.00

   Wheat...Early-week trade on the west coast markets showed nearby soft 
white wheat bids mostly steady but a notable drop in club wheat premium.
Exporters are anticipating increased club wheat planting this spring and
that crop is thus far off to a good start in Washington. Hard red winter
bids also remain firm for nearby delivery.
   Crop Progress...Winter wheat ratings were shuffled between categories
over the past week, but the net effect left the overall index unchanged
from the prior week.  Idaho saw an 8% drop in good to excellent to 65%,
Oregon was up 2 % to 42% and Washington slipped 2% to 85%.  The overall
weighted-index was unchanged at 382 on a 500 point scale and placed the
crop at 103% of normal. The first assessment of spring wheat conditions
shows Idaho good to excellent 29% below a year ago at 51% but Washington
is up 21% at 80% as early plantings took advantage of recent moisture.
   Shipments...Weekly export inspections showed another relatively good
week of shipments for U.S. wheat, coming in at 18.3 mb to place totals
at 914 mb and nearly on par with a year ago.  Top shipper was hard red
winter with 11.4 mb followed by white wheat with 4.2 mb.  China was the
top destination off the west coast, taking 4.8 mb.

                                    -Norm Ruhoff  Contributing Analyst

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