West Coast grain market report

September wheat futures ended the reporting week on Thursday, Aug. 14, lower compared to last Thursday’s closes.

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

Aug. 15

PACIFIC NORTHWEST MARKET SUMMARY

Cash wheat bids for August delivery ended the reporting week on Thursday, Aug. 14, mixed as follows compared to last week’s August bids. Soft white wheat bids were mixed, while hard red winter wheat bids and dark northern spring wheat bids trended moderately lower.

September wheat futures ended the reporting week on Thursday, Aug. 14, lower as follows compared to last Thursday’s closes: Chicago $0.2425 lower at $5.37, Kansas City $0.3825 lower at $6.08 and Minneapolis wheat futures trends $0.2875 lower at $6.06.

Chicago September corn futures trended $0.250 higher at $3.62 while August soybean futures closed $0.2550 lower at $12.25. Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges during August were mixed, from $0.0650 lower to $0.1575 per bushel higher, from $6.77 to $6.90, mostly $6.83. Bids for last Thursday for August delivery were $6.62-6.97, mostly $6.88. White club wheat premiums for this week were $0.75 to $1, mostly $0.94 and last week were $0.50 to $1, mostly $0.83 per bushel over soft white wheat bids.

One year ago bids for US 1 Soft White Wheat delivered by unit trains and barges to Portland for August delivery were $7.06-7.26, mostly $7.16 and white club wheat was $7.11-7.26, mostly $7.20.

Nearby bids for US 1 Soft White wheat began the reporting week on Friday at mostly $6.81 before dropping to mostly $6.79 on Monday, to mostly $6.70 on Tuesday and then mostly $6.65 on Wednesday. Last Thursday bids jumped to the weekly high of mostly $6.83.

Some exporters were not issuing bids for nearby delivery. Forward month bids for soft white wheat were as follows: September $6.77-6.93, October $6.83-6.96, November $6.88-6.99 and December $6.88-7.02.

One year ago, forward month bids for soft white wheat were as follows: September $7.11-7.31, October $7.13-7.33, November and December $7.18-7.33.Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for August delivery fell by $0.2925 to $0.4325 per bushel compared to last week’s bids. Lower Kansas City September wheat futures pressured bids, although some traders raised their basis, which tempered declines. On Thursday, bids were as follows: August $6.98-7.13, mostly $7.04; September $7.03-7.18; October, November and December $7.33-7.43.

Bids for non-guaranteed 14 percent protein US 1 Dark Northern Spring Wheat for August Portland delivery trended $0.4875 to $0.5375 per bushel lower than last week’s bids. Cash bids were pressured by the lower Minneapolis September spring wheat futures for the week and a lower basis bid by some exporters. On Thursday, bids for non-guaranteed 14 percent protein were as follows: August $7.51-7.76, mostly $7.64; September $7.46-7.76; October, November and December $7.76-8.21.

COARSE FEEDING GRAINS

Bids for US 2 Yellow Corn delivered to Portland in single rail cars were not available. Bids for US 2 Yellow Corn truck delivered to the inland feeding areas of Yakima, Washington, and Hermiston, Ore., were also not available. Bids for US 2 Heavy White Oats for August delivery were $10 higher at $290.

OUTSTANDING EXPORT SALES

Outstanding U.S. white wheat export sales as of Aug. 7, 2014, for the marketing year beginning June 1, 2014, and ending May 31, 2015, in 1000 MT, totaled 1095.8 thousand MT compared to 1085.4 thousand MT one week ago, and 1100.5 thousand MT one year ago.

Outstanding white wheat export sales for the 2014-2015 marketing year were to the following countries in 1000 MT: Japan 206.1, South Korea 200.6, Philippines 114.6, Sri Lanka 45.0, Indonesia 32.1, Thailand 30.0, Taiwan 25.7, Nigeria 24.0, China 20.0, Singapore 15.0, Guatemala 12.4, El Salvador 12.1, Malaysia 5.0, Canada 1.4, Hong Kong 1.1, Burma 1.0, Vietnam 0.3 and total unknown 349.4.

Accumulated white wheat export shipments as of Aug. 7, 2014, in 1000 MT for the 2014-2015 marketing year, totaled 635.3 compared to 516.2 one year ago. Outstanding U.S. barley export sales as of Aug. 7, 2014,for the marketing year beginning June 1, 2014 and ending May 31, 2015, in 1000 MT, totaled 20.0 compared to 8.8 last week and 44.9 one year ago.

Outstanding barley export sales for the 2014-2015 marketing year in 1000 MT were to the following countries in 1000 MT: Japan 14.5, Taiwan 4.5, South Korea 0.7 and Philippines 0.4. Accumulated barley export shipments as of August 7, 2014 were 17.3 thousand MT compared to 7.4 one year ago.

PACIFIC NORTHWEST EXPORT NEWS

There were 17 grain vessels in Columbia River ports on Thursday, Aug. 14, with five docked compared to 11 last Thursday with three docked. New confirmed export sales this week were limited to the Commodity Credit Corporation (CCC). The CCC of the USDA purchased 22,680 metric tons of soft white wheat for export distribution to Yemen under the P.L. 480 Title II Program. Shipment for the wheat is Sept. 10-25.

CALIFORNIA GRAINS

(USDA Market News)

Portland

Aug. 14

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 OC $11

Colusa County NA

Glenn County NA

Rail Any origin

Stockton-Modesto-Oakdale-Turlock NA

Tulare NA

CORN - U.S. No. 2 Yellow

FOB Turlock $9.04

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock $9.34

Los Angeles-Chino Valley NA

Fresno-Tulare-Corcoran-Coalinga NA

Rail Single Car Units via BNSF

Los Angeles-Chino Valley $10.39

SORGHUM - U.S. No. 2 Yellow

Rail Los Angeles-Chino Valley

via BNSF Single $10.16

Truck Modesto-Oakdale-Turlock NA

OATS - U.S. No. 1 White (36 lbs. per bushel)

Truck Los Angeles-Chino Valley $16.05

OATS - U.S. No. 2 White

Truck Petaluma NA

Stockton-Modesto-Turlock NA

WHEAT - U.S. No. 2 or better - Hard Red Winter (Domestic Values for Flour Milling)

Truck (CA Origin)

Los Angeles 12 percent Protein $13.85

Los Angeles 13 percent Protein $14.05

Los Angeles 14 percent Protein $14.25

Truck/Rail (Out-Of-State Origin)

Los Angeles 12 percent Protein $13.13

Los Angeles 13 percent Protein NA

Los Angeles 14 percent Protein NA

WHEAT - U.S. Durum Wheat

FOB Imperial County $15.68

WHEAT - Any Class for Feed

FOB Tulare NA

Truck Petaluma-Santa Rosa NA

Stockton-Modesto-Oakdale-Turlock NA

Fresno-Tulare-Kings NA

Merced County NA

Colusa County NA

Kern County NA

Truck/Rail

Los Angeles-Chino Valley $12.75-13.75

Prices paid to California farmers, seven-day reporting period ending July 31:

WHEAT, US No 2 or better, Hard Red Winter Wheat 13% Protein

Glen $10.90

WHEAT, US No 2 or better, Hard White Wheat 13% Protein

No confirmed sales.

WHEAT, US No 1, Hard Amber Durum for Flour Milling

Imperial $15.00

BARLEY, US No 2, 48 lbs per bushel

No confirmed sales.

YELLOW CORN, US No 2 or better

No confirmed sales.

SORGHUM, US No 2 or better

No confirmed sales.



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