JO_GR116 Portland, OR Thu Feb 9, 2012 USDA Market News Portland Weekly Grain Review Part 2 Pacific Northwest Add Weekly Grain Summary Cash Soft White Wheat - Pacific Northwest: Bids for US 1 Soft White Wheat, delivered by unit trains and barges to Portland during February ended the reporting week on Thursday, February 9, at 7.00-7.15, mostly 7.10, 15 to 30 cents per bushel higher than week ago bids for February delivery. Last Thursday's bids for soft white wheat for February delivery were 6.70-6.70, mostly 6.95. There were no white club wheat premiums for February delivery for this week or last week. One year ago bids for US 1 Soft White Wheat for February delivery were 8.25-8.90, mostly 8.62 and White Club Wheat bids were 8.25-9.20, mostly 8.79. Nearby bids for US 1 Soft White wheat began the reporting week on Friday at the weekly low of mostly 6.97 and rose each day to mostly 7.00 on Monday, mostly 7.04 on Tuesday, mostly 7.09 on Wednesday and ended the week today (Thursday) at mostly 7.10. Good exporter demand to fulfill upcoming vessel commitments were supportive to soft white wheat bids. New confirmed export sales of white wheat this week were limited to Japan. Forward month bids for soft white wheat were as follows: March 7.00-7.15; April 7.05-7.15; May 7.00-7.15; June 7.00 and August New Crop 6.75-6.85. One year ago, forward month bids for soft white wheat were as follows: March 8.25-8.90, April 8.60-8.90, May 8.65-8.90; June 8.70 and August New Crop 8.50-8.75. Bids for February through March for one year ago were delivered by rail only. Bids for April through August New Crop delivery were by unit trains or barges. Outstanding U.S. white wheat export sales as of February 2, 2012 for the marketing year beginning June 1, 2011 and ending May 31, 2012, totaled 1,694.0 thousand MT compared to 1,458.0 thousand MT on January 26, 2012, and 1,300.0 thousand MT one year ago. Outstanding white wheat export sales for the 2011-2012 marketing year were to the following countries in 1,000 MT: South Korea 430.0, Japan 294.3, Philippines 201.9, Yemen 150.0, Mexico 113.2, Thailand 41.5, China 35.0, Nigeria 29.3, Taiwan 12.5, Vietnam 1.7, Canada 1.4, Hong Kong 1.1, Malaysia 0.5 and total unknown 381.6. Accumulated white wheat export shipments as of February 2, 2012, in 1,000 MT for the 2011-2012 marketing year, totaled 3,330.8 compared to 3,129.3 one year ago. Outstanding U.S. barley export sales as of February 2, 2012 for the marketing year beginning June 1, 2011 and ending May 31, 2012, in 1,000 MT, totaled 0.2 compared to 0.2 on January 26, 2012 and 16.2 one year ago. Outstanding barley export sales for the 2011-2012 marketing year in 1,000 MT were to Taiwan 0.2. Accumulated barley export shipments as of February 2, 2012 were 82.6 thousand MT compared to 82.3 one year ago. Coarse feeding grains: Bids for US 2 Barley delivered to the coast in unit trains or barges and bids for US 2 Barley delivered to the inland feeding areas of Hermiston, Oregon and Yakima, Washington during February were not well tested. Bids for US 2 Yellow Corn delivered to Portland in single rail cars were 273.25, 1.00 to 1.50 per ton lower than last Thursday's bids of 274.25-274.75. Bids for US 2 Yellow Corn truck delivered to the inland feeding areas of Yakima, Washington, and Hermiston, Oregon were 261.00-275.25 which was mixed, from 2.25 lower to 50 cents per ton higher than last Thursday's bids of 263.25-274.75. Lower Chicago March corn futures for the week weighed on corn bids, while a higher basis bid by some corn traders were supportive to bids. Bids for US 2 Heavy White Oats for February delivery held steady at 220.00. Source: USDA Market News Service, Portland, OR Tiffany Smit 503-326-2237 Portland.LGMN@ams.usda.gov 24 hour price information 503-326-2022 http://www.ams.usda.gov/mnreports/jo_gr116.txt www.ams.usda.gov/lsmarketnewes 1200p ts