Western grain markets

Bids for U.S. 1 Soft White Wheat delivered to Portland in unit trains or barges during June were $6.7525-7.15, mostly $6.8775.

Grains are stated in dollars per bushel or hundredweight (cwt.) except feed grains traded in dollars per ton. National grain report bids are for rail delivery unless truck indicated.

PORTLAND GRAIN

(USDA Market News)

Portland

June 12

PACIFIC NORTHWEST MARKET SUMMARY

Cash wheat bids for June delivery ended the reporting week on Thursday, June 12, mixed as follows compared to the previous week’s June bids.

July wheat futures ended the reporting week on Thursday, June 12, lower as follows compared to June 5 closes: Chicago 20.50 cents lower at $5.8525, Kansas City 8.50 cents lower at $7.0550 and Minneapolis wheat futures trended 8.50 cents lower at $6.82. Chicago July corn futures trended five cents lower at $4.44 while July soybean futures closed 45.25 cents lower at $14.1525.

Bids for U.S. 1 Soft White Wheat delivered to Portland in unit trains or barges during June were $6.7525-7.15, mostly $6.8775. Bids were ten to 20.50 cents per bushel lower than June 5 bids for June delivery of $6.9575-7.25. White club wheat premiums for this week were slightly lower at 25 to 50 cents, mostly 30 cents per bushel over soft white wheat bids compared to last week which was 30 to 50 cents, mostly 45 cents per bushel over soft white wheat bids. One year ago bids for U.S. 1 Soft White Wheat and white club wheat delivered by unit trains and barges to Portland for June delivery were not available.

Nearby bids for U.S. 1 Soft White wheat began the reporting week on June 6 at mostly $7.2375 then moved lower to mostly $7.1825 on June 9. June 10 saw another drop to mostly $7.1075 and on June 11 moved significantly lower to $6.8925. June 12, bids moved to the weekly low of $6.8775. Lower Chicago July soft red winter wheat futures throughout most of the week pressured soft white wheat bids. Some exporters were not issuing bids for nearby delivery. Forward month bids for soft white wheat were as follows: July $6.6525-6.97, August New Crop $6.82-7.12, September $6.84-7.12, and October $6.96-7.15. One year ago, forward month bids for soft white wheat were as follows: July $7.26-7.28, August New Crop $7.20-7.30, September $7.21-7.35, and October was $7.2525-7.40.

Bids for 11.5 percent protein U.S. 1 Hard Red Winter Wheat for June delivery trended 3.50-8.50 cents per bushel lower than last Thursday’s noon bids in lining up with the lower Kansas City July wheat futures for the week. Some exporters were not issuing bids for nearby delivery. On Thursday, bids were as follows: June $7.75-7.9050 mostly $7.8350; July $7.75-7.9050; August New Crop $7.7525-8.0525, September $7.8025-8.0525, and October $7.95-8.10.

Bids for non-guaranteed 14.0 percent protein U.S. 1 Dark Northern Spring Wheat for June Portland delivery trended mixed 3.50 cents per bushel lower to 1.50 cents per bushel higher than June 5 noon bids. Lower Minneapolis July spring wheat futures for the week weighed on cash prices while a higher basis bid by some exporters provided support. Some exporters were not issuing bids for nearby delivery. On Thursday, bids for non-guaranteed 14 percent protein were as follows: June $8.12-8.37, mostly $8.21; July $7.97-8.17; August New Crop $8-8.20, September $7.80-8.20, and October $8.1650-8.2650.

COARSE FEEDING GRAINS

Bids for U.S. 2 Yellow Corn delivered to Portland in single rail cars were not available. Bids for U.S. 2 Yellow Corn truck delivered to the inland feeding areas of Yakima, Wash., and Hermiston, Ore., were also not available. Bids for U.S. 2 Heavy White Oats for June delivery were $280, steady with June 5 noon bids.

OUTSTANDING EXPORT SALES

Outstanding U.S. white wheat export sales as of June 5, for the marketing year beginning June 1, 2014, and ending May 31, 2015, in 1000 MT, totaled 1047.4 thousand MT compared to 849.3 thousand MT one week ago, and 850.5 thousand MT one year ago. Outstanding white wheat export sales for the 2014-15 marketing year were to the following countries in 1000 MT: Philippines 186.7, South Korea 154.0, Japan 148.4, Sri Lanka 45.0, Guatemala 36.9, Thailand 31.2, Malaysia 21.0, Indonesia 18.0, Taiwan 13.5, El Salvador 12.7, Nigeria 7.1, Peru 7.2, Vietnam 6.0, Burma 2.4, Hong Kong 1.1, Canada 0.8 and total unknown 355.4. Accumulated white wheat export shipments as of June 5, 2014, in 1000 MT for the 2014-15 marketing year, totaled 31.8 compared to 10.7 one year ago.

Outstanding U.S. barley export sales as of June 5, for the marketing year beginning June 1, 2014, and ending May 31, 2015, in 1000 MT, totaled 6.5 compared to 5.6 last week and 27.8 one year ago. Outstanding barley export sales for the 2014-15 marketing year in 1000 MT were to the following countries in 1000 MT: Taiwan 2.6, Japan 2.4, South Korea 1.3, and Philippines 0.2. Accumulated barley export shipments as of June 5 were 13.4 thousand MT compared to 1.0 one year ago.

PACIFIC NORTHWEST EXPORT NEWS

There were 14 grain vessels in Columbia River ports on Thursday, June 12, with four docked compared to 15 on June 5 with four docked. New confirmed export sales this week were limited to Japan. Japan purchased the following U.S. wheat in metric tons: 24,490 of semi-hard hard red winter wheat for loading between July 21 and Aug. 20, and 25,940 of western white wheat for arrival by Sept. 30.

CALIFORNIA GRAINS

(USDA Market News)

Portland

June 12

Prices in dollars per cwt., bulk Inc.= including; Nom.= nominal; Ltd.= limited; Ind.= indicated; NYE=Not fully estimated.

GRAIN DELIVERED

Mode Destination Price per cwt.

BARLEY - U.S. No. 2 (46-lbs. per bushel)

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock NA

Fresno-Tulare-Corcoran-Coalinga NA

Colusa County NA

FOB Yolo County NA

FOB Glenn County NA

Rail Any origin

Stockton-Modesto-Oakdale-Turlock NA

via Union Pacific and BNSF NA

Tulare - via Union Pacific NA

HULLESS BARLEY - U.S. No. 2 (46-lbs. per bushel)

Yolo County NA

CORN - U.S. No. 2 Yellow

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock $10.64

Los Angeles-Chino Valley NA

Fresno-Tulare-Corcoran-Coalinga NA

Colusa County NA

Rail Single Car Units via BNSF

Chino Valley $10.79

Los Angeles $10.79

SORGHUM - U.S. No. 2 Yellow

Rail Los Angeles-Chino Valley

via BNSF Single $11.18

OATS - U.S. No. 2 White

Truck Petaluma-Stockton-Modesto-Turlock $15

OATS - U.S. No. 1 White

Truck Los Angeles-Chino Valley $15.75

WHEAT - U.S. No. 2 or better - Hard Red Winter

(Domestic Values for Flour Milling)

Kings County 13 percent Protein NA

Los Angeles 12 percent Protein $15.31

Los Angeles 13 percent Protein $15.51

Los Angeles 14 percent Protein $15.71

Truck/Rail Los Angeles 11-12 percent Protein NA

Los Angeles 12 percent Protein $14.76

Los Angeles 13 percent Protein NA

Los Angeles 14 percent Protein NA

WHEAT - U.S. Durum Wheat

Truck Imperial County NA

WHEAT - Any Class for Feed

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock $NA

Fresno-Tulare-Kings $12.85

Merced County $13.25-13.50

Colusa County NA

Kern County $16.57

Truck/Rail Los Angeles-Chino Valley $14.50-15.25

Prices paid to California farmers, seven-day reporting period ending June 12:

WHEAT, U.S. No. 2 or better, Hard White Wheat 13 percent Protein

Kern $13.27 NC, June-July FOB

Tulare $13.75-14.18 NC, June-July del. local

WHEAT, U.S. No. 1, Hard Amber Durum for Flour Milling

Imperial $15-15.20 NC, June-July FOB



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