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                                                      May 26, 2020
                                                                  
                                   Portland Price Trends
                 05-01-19    08-01-19    04-01-20    05-19-20   05-26-20
#1 SWW (bu)         5.67        5.90        6.10        6.10       6.05
White Club          5.67        5.90        7.60        7.60       7.55
DNS 14%             6.12        5.98        7.04        6.80       6.88
HRW 11.5%           5.70        5.36        6.30        5.93       5.97
#2 Corn (ton)     168.00      170.00      155.00      140.00     140.00
#2 Barley         140.00      140.00      130.00      155.00     153.00

   Wheat...West coast red wheat markets came out of the extended weekend
on a firmer note, reflective of respective futures markets, while white
wheat held below recent highs.  Exporters continue to show old crop bids
at a premium to new crop.
   Crop Progress...Despite a divergence in winter wheat conditions, the
overall Pacific Northwest crop rating index improved over the past week
on a good round of precipitation.  Good to excellent ratings for Idaho 
climbed 2% to 73% and Washington saw a 4% improvement to 87%.  However, 
Oregon's crop continued to deteriorate as good to excellent slipped 13% 
to 40% and poor to very poor climbed to 25%. The net effect across the
three-state weighted index was a 1 point improvement to 103% of normal.
   Shipments...Weekly export inspections showed a relatively good week
of late season wheat shipments off U.S. ports last week, coming in at
16.8 mb to put year-to-date shipments at 896 mb; on par with a year ago.  
Top shipper was hard red winter with 7.6 mb, followed by red spring with 
5.7 mb and soft white at 2.3 mb. China was a big taker off the Gulf and 
west coast last week. 

                                    -Norm Ruhoff  Contributing Analyst

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