JO_GR115 Portland, OR Thu Jun 13, 2013 USDA Market News Portland Weekly Grain Review Part 1 Pacific Northwest Weekly Grain Summary Pacific Northwest Market Summary: Cash wheat bids for June delivery ended the reporting week on Thursday, June 13, lower compared to week ago bids. Soft white wheat bids were not available. July wheat futures ended the reporting week on Thursday, June 13, lower, as follows compared to last Thursday's closes: Chicago 12.25 cent lower at 6.8550, Kansas City 20 cents lower at 7.1850 and Minneapolis wheat futures trended 8.25 cents lower at 8.12. Minneapolis September wheat futures trended ten cents per bushel lower at 7.95. Chicago July corn futures trended 19.75 cents lower at 6.4350 while July soybean futures closed 17 cents lower at 15.1025. Wheat futures were pressured during the week by slow export demand, a higher US dollar on Friday, lower row crop futures on Monday, lower outside markets on Tuesday, an increase in planting percentage despite the wet weather, the bearish USDA report released on Wednesday, and ample world pipeline supplies. Pressuring factors to the corn futures this week were crop friendly weather, a lower-than-expected inspected-for-export figure of 6.4 million bushels (mb), and the USDA lowering its US ending stocks in the report released on Wednesday to 1.949 billion bushels. Soybean futures were also lower for the week with pressure coming from an increase in planting progress this week, crop friendly weather, a lower-than-expected inspected-for-export figure of 3.1 mb, and lower corn and wheat futures on Wednesday. Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges during June were not available as most exporters were not issuing bids for nearby delivery. Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for June delivery trended 20 to 25 cents per bushel lower compared to last Thursday's noon bids for June delivery. Lower Kansas City July wheat futures and a lower basis bid by some exporters pressured cash bids. On Thursday, bids were as follows: June 8.3850-8.6350, mostly 8.4850; first half July 8.2850-8.5350, last half July 8.0850-8.5350; August New Crop 8.0875-8.1375; September 8.0875-8.1875 and October 8.2650-8.3650. Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for June Portland delivery trended 13.25 to 15.25 cents per bushel lower compared with last week's noon bids for June delivery. Lower Minneapolis July and September wheat futures and a lower basis bid by some exporters pressured cash bids. Some exporters have switched their basis to over the Minneapolis September wheat futures. Protein scales for non-guaranteed 14.0 percent protein were plus zero cents each 1/4 of a percent of protein up to 16 percent protein and minus four to five cents each 1/4 of a percent of protein down to 13 percent protein. On Thursday, bids for non-guaranteed 14 percent protein were as follows: June 9.15-9.22, mostly 9.21, July 8.95-9.22, August New Crop 8.80-9.05, September 8.80-9.00 and October 8.87-9.07. There were five grain vessels in Columbia River ports on Thursday, June 13, with one docked compared to six last Thursday with three docked. New confirmed export sales this week were limited to Japan. Japan purchased the following wheat in metric tons: 29,481 of hard red winter wheat, 23,750 of dark northern spring wheat and also 40,831 of dark northern spring wheat. One cargo of dark northern spring wheat is for shipment between July 21 and August 20, and one cargo each of hard red winter wheat and dark northern spring wheat are for arrival by September 30. Source: USDA Market News, Portland, OR Niki Davila 503-326-2237 Portland.LGMN@ams.usda.gov 24 hour price information 503-326-2022 http://www.ams.usda.gov/mnreports/jo_gr115.txt www.ams.usda.gov/lpsmarketnewspage 1205p nd