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March 12, 2026
Portland Price Trends
03-01-25 08-01-25 02-01-26 03-05-26 03-12-26
#1 SWW (bus) 6.15 6.15 5.95 6.10 6.25
White Club 6.30 6.30 6.30 6.45 6.60
DNS 14% 6.56 6.41 6.56 6.99 7.18
HRW 11.5% 6.02 5.88 6.05 6.49 6.79
#2 Corn (ton) 212.00 190.00 192.00 210.00 212.00
#2 Barley 170.00 170.00 160.00 160.00 160.00
Wheat...West coast cash wheat bids took on a defensive tone against the
gains across the futures complex with basis levels weakening for all three
classes of wheat, but still posted solid gains relative to a week ago. The
white wheat basis to Chicago May futures slipped to just 15 over while new
crop August cash bids were at a discount to Chicago September futures.
Weekly Sales...USDA reported a solid rebound in export demand for U.S
wheat last week, coming in at the best level in a month primarily on good
buying from Mexico. Total sales of 16.7 million bushels puts year-to-date
commitments at 863 million, which is 12% ahead of a year ago and 18% above
the five-year average pace. Hard red winter booked 7.2 million bushels and
with 306 million in commitments, sets 62% ahead of a year ago and 45% over
the five-year average. Hard red spring sold 4.1 million bushels and with a
total of 225 million in commitments, sets 9% below a year ago but 1% above
average. White wheat garnered 2.5 million bushels, putting commitments at
194 million, which is 8% behind a year ago but 12% above average.
Top Buyers...Mexico was the top U.S. wheat buyer last week with an 8.8
million bushel purchase. China bought 2.5 million of hard red spring, Japan
also booked 2.5 million and The Philippines bought 2.2 million bushels.
- Norm Ruhoff Contributing Analyst
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