JO_GR110 Portland, OR Thu Jul 03, 2008 USDA Market News Portland Daily Grain Report Bids as of 11:30 a.m.; Subject to change Bids for grains delivered to Portland, Oregon during July by rail or barge, in dollars per bushel, except oats, corn and barley, in dollars per cwt. Bids for soft white wheat are for delivery periods as specified. Bids for 11.5 percent protein hard red winter wheat are split for July 3-10, July 11-20 and July 21-31 delivery. All other bids are for full July delivery. September wheat futures closed 2-1/2 to 7-1/2 cents per bushel higher compared to Wednesday’s closes. Bids for US 1 Soft White Wheat for full July Portland delivery held steady with Wednesday’s noon bids. Some exporters were not issuing bids for first half July delivery. Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for July delivery were mixed, from one cent lower to seven cents per bushel higher compared to Wednesday’s noon bids. Higher Kansas City September wheat futures were supportive to bids, although a lower basis bid by some exporters tempered advances. Bids for 14 percent protein US 1 Dark Northern Spring Wheat for July delivery were mixed, from eight cents lower to two cents per bushel higher than Wednesday’s noon bids. Higher Minneapolis September wheat futures were supportive to bids, while a lower basis bid by some exporters weighed on bids due to good spring wheat growing conditions. Bids for US 2 barley for July delivery were not quoted today in a very limited test. Most exporters were not issuing bids for barley for old crop delivery. Bids for US 2 Yellow Corn single rail delivered to Portland trended 6-1/4 cents per cwt lower than Wednesday’s noon bids. Corn bids truck delivered to the Yakima Valley were 3-3/4 to five cents per cwt lower the Wednesday’s noon bids. Lower Chicago July and September corn futures weighed on cash corn bids. All wheat bids in Dollars per bushel US 1 Soft White Wheat - Any protein - Rail/Barge delivered FH Jul $8.05 unch LH Jul mostly $ 8.05 , ranging $7.75 -8.05 unch Aug 1-10 $7.85 -8.10 unch Aug 11-20 $8.00 -8.10 unch Aug 21-31 $8.05 -8.10 unch Sep $8.15 -8.20 unch Oct $8.23 -8.26 unch Nov $8.29 -8.34 unch _ US 1 White Club Wheat - Rail/Barge delivered FH Jul , ranging $8.05 unch LH Jul mostly $ 8.05 , ranging $7.75 -8.05 unch _ US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or better) Ordinary protein NA 10 pct protein NA 11 pct protein NA 11.5 pct protein Jul 3-10 mostly $ 9.87 , ranging $9.87 -9.92 up 7-dn 1 Jul 11-20 mostly $ 9.87 , ranging $9.77 -9.88 up 7-up 5 Jul 21-31 mostly $ 9.78 , ranging $9.77 -9.87 up 7 Aug NC $9.72 -9.87 up 7 12 pct protein $9.82 -9.92 up 7 13 pct protein mostly $ 9.92 , ranging $9.87 -10.07 up 7 13 pct protein- $9.87 -10.07 up 7 Milling Quality Montana Origin _ US 1 Dark Northern Spring Wheat (with a minimum of 300 falling numbers, a maximum of 0.5 part per million vomitoxin, and a maximum of one percent total damage) 12 pct protein $10.02 -10.32 dn 8-up 2 13 pct protein $10.10 -10.40 dn 8-up 2 14 pct protein Jul mostly $ 10.48, ranging $10.18 -10.48 dn 8-up 2 Aug NC $10.18 -10.43 dn 8-up 2 15 pct protein $10.18 -10.48 dn 8-up 2 Guaranteed 15 pct protein NA _ US 2 Barley in dollars per CWT Unit trains & Barges-export (45 lbs.) NA Merchandiser Bids-Single rail cars-domestic (48 lbs. or better) Delivered to Portland NA Delivered to inland feeding areas NA FOB inland Country Elevators NA _ US 2 Yellow Corn in dollars per CWT Domestic-single rail cars Delivered full coast-BN NA Delivered to Portland $15.1750-15.6750 dn 6.25 Rail and Truck del to Willamette Vly NA Rail del to Yakima Valley NA Truck del to Yakima Valley $15.1125-15.5000 dn 3.75-dn 5 _ US 2 Heavy White Oats in dollars per CWT $11.0000 unch Exporter offers on Wednesday night for September shipment FOB vessel in dollars per bushel: US 2 or btr Soft White Wheat NA US 2 or btr Western White Wheat NA US 2 or btr Hard Red Winter Wheat, ord.% NA US 2 or btr Hard Red Winter Wheat, 11.5% NA US 2 or btr Hard Red Winter Wheat, 13% NA US 2 or btr Northern Spring Wheat, 13% NA US 2 or btr Dk Northern Spring Wheat, 14% NA US 2 or btr Northern Spring Wheat, 14.5% NA US 2 Barley NA US 3 Yellow Corn NA _ Exporter Bids Portland Rail/Barge Jun 2008 Averages in Dollars per bushel _ No. 1 Soft White $7.97 No. 1 Hard Red Winter (Ordinary protein) NA No. 1 Hard Red Winter (11.5% protein) $9.91 No. 1 Dark Northern Spring (14% protein) $10.79 No. 2 Barley NA _ Source: USDA Market News Service, Portland, OR Tiffany Smit (503) 326-2237 24 hour price information: (503) 326-2022 www.ams.usda.gov/mnreports/jo_gr110.txt pdt 12:02 ts .