JO_GR116
Portland, OR    Thu Feb 4, 2010    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, 
any protein and maximum 10.5 percent protein, for February Portland delivery 
ended the reporting week on Thursday, February 4, at 4.75 to 4.90, mostly 
4.83, 10 cents per bushel lower compared to last Thursday's noon bids of 4.85 
to 5.00, for February delivery.  White club wheat premiums for any protein 
were 3.00 to 4.00, mostly 3.33 per bushel over bids for soft white wheat.  
Last Thursday's premiums were also 3.00 to 4.00, mostly 3.33 per bushel over 
soft white wheat bids.  One year ago bids for any protein US 1 Soft White 
Wheat for February delivery were 5.55 to 5.68, mostly 5.62.  Premiums for 
White Club Wheat one year ago for February delivery were 1.50 to 1.80, mostly 
1.50 per bushel over bids for soft white wheat.  Nearby bids for any protein 
US 1 Soft White wheat began the reporting week at mostly 4.82 on Friday, then 
advanced to mostly 4.85 on Monday, and to 4.87 on Tuesday, before falling to 
4.86 on Wednesday.  Today, (Thursday) the reporting week's close bids were 
mostly 4.83.  Lower Chicago March wheat futures for the week pressured bids, 
while moderate to good export demand for white wheat and limited country 
selling partially offset the declines.  Exporters were not issuing premiums 
for soft white wheat with a maximum of 10.5 percent protein.  New confirmed 
export sales of white wheat made this week were to Japan.  Japan purchased 
17,000 metric tons of western white wheat for April 1 through 30 delivery.  
Forward month bids for soft white wheat, any protein, were as follows:  March 
4.80 to 4.90, April 4.85 to 4.93, May 4.80 to 4.93, and August New Crop 4.60 
to 4.70.  One year ago, forward month bids for any protein soft white wheat 
were as follows:  March 5.55 to 5.72, April 5.55 to 5.75, May 5.71 to 5.80 and 
August New Crop was 5.23 to 5.53.  Bids for maximum 10.5 percent protein soft 
white wheat one year ago were as follows:  February 5.60 to 5.80, mostly 5.72, 
March 5.70 to 5.85, April 5.70 to 5.90, May 5.71 to 5.95, and August New Crop 
was 5.23 to 5.53.

   Outstanding U.S. white wheat export sales as of January 28, 2010 for the 
marketing year beginning June 1, 2009 and ending May 31, 2010, totaled 886.1 
thousand MT compared to 899.7 thousand MT on January 21, 2009, and 692.0 
thousand MT one year ago.  Outstanding white wheat export sales for the 2009-
2010 marketing year were to the following countries in 1,000 MT: Philippines 
321.1, South Korea 138.7, Japan 137.7, China 50.0, Yemen 50.0, Thailand 46.1, 
Nigeria 22.7, Singapore 14.0, Taiwan 8.1, Mexico 4.8, Canada 3.3, Vietnam 2.5, 
Hong Kong 0.8, and total unknown 86.3.  Accumulated white wheat export 
shipments as of January 28, 2010, in 1,000 MT for the 2009-2010 marketing 
year, totaled 2,647.3 compared to 2,046.1 one year ago.

   Outstanding U.S. barley export sales as of January 28, 2010 for the 
marketing year beginning June 1, 2009 and ending May 31, 2010, in 1,000 MT, 
totaled 18.4 compared to 18.3 on January 21, 2009 and 21.4 one year ago.  
Outstanding barley export sales were to the following countries in 1,000 MT:  
Canada 15.1, Mexico 2.9, and Taiwan 0.4.  Accumulated barley export shipments 
as of January 28, 2010 were 60.4 thousand MT compared to 202.7 one year ago.

      Coarse feeding grains:  Bids for US 2 Barley delivered to the coast in 
unit trains or barges during February were not well tested as most exporters 
were not issuing bids for barley.  Bids for US 2 Barley delivered to the 
inland feeding areas of Hermiston, Oregon and Yakima, Washington were also not 
well tested.  Bids for US 2 Yellow Corn delivered to Portland in single rail 
cars were 0.50 per ton lower at 165.75 to 167.25, compared to last Thursday's 
noon bids of 166.25 to 167.75.  Bids for US 2 Yellow Corn truck delivered to 
the inland feeding areas of Yakima, Washington, and Hermiston, Oregon, were 
2.75 per ton lower at 157.75 to 165.75 compared to last Thursday's noon bids 
of 160.50 to 168.50.  Corn bids were pressured by the lower Chicago March corn 
futures for the week.  Bids for US 2 Heavy White Oats for February delivery 
were not well tested but were indicated as 140.00, steady with week ago 
indications.

Source: USDA Market News Service, Portland, OR
        Niki Davila                         (503) 326-2237
        24 hour recorded price information: (503) 326-2022
        http://www.ams.usda.gov/mnreports/JO_GR116.txt

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