Portland Daily Grain Report for Friday, Feb. 1, 2013

Bids as of 9:30 a.m. Pacific time; subject to change.

Bids for grains delivered to Portland, Oregon during February by unit trains and barges, in dollars per bushel, except oats, corn and barley, in dollars per cwt. Bids for soft white wheat are for delivery periods as specified. All other wheat bids are for full February delivery. Bids for corn are for 30 day delivery.

March wheat futures trended steady to eight cents per bushel higher compared to Thursday's closes.

Bids for US 1 Soft White Wheat for February delivery in unit trains or barges were not fully established, but bids trended five to eight cents per bushel higher than Thursday's noon bids for February delivery. Some exporters were not issuing bids for nearby delivery.

Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for February delivery trended steady compared to Thursday's noon bids for the same delivery period.

Bids for 14 percent protein non-guaranteed US 1 Dark Northern Spring Wheat for February delivery trended seven cents per bushel higher than Thursday's noon bids for the same delivery period. Higher Minneapolis March wheat futures supported cash bids.

Bids for US 2 Yellow Corn delivered to Portland in single rail cars for domestic use trended 7.50 cents per cwt higher compared to Thursday's noon bids. Corn bids truck delivered to the Yakima Valley trended 7.50 to 12.50 cents per cwt higher compared to Thursday's noon bids. Corn bids were supported by the higher Chicago corn futures and a higher basis bid by some corn traders.

All wheat bids in dollars per bushel

US 1 Soft White Wheat - delivered by Unit Trains and Barges *

Feb mostly 8.8825, ranging 8.7500-8.9750

Mar 8.8500-8.9750

Apr 8.9000-9.0000

May 8.9000-9.0000

Aug NC 8.2325-8.4325

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US 1 White Club Wheat - delivered by Unit Trains and Barges *

Feb mostly 8.8825, ranging 8.7500-8.9750

*Not fully established.

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US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or better) *

Ordinary protein 9.0675-9.2375

10 pct protein 9.0675-9.2375

11 pct protein 9.2675-9.3975

11.5 pct protein

Feb 9.3675-9.4775

Aug NC 9.0750-9.1750

12 pct protein 9.4175-9.5275

13 pct protein 9.5175-9.6275

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US 1 Dark Northern Spring Wheat (with a minimum of 300 falling numbers, a maximum of 0.5 part per million vomitoxin, and a maximum of one percent total damage) *

13 pct protein 9.4700-9.6100

14 pct protein

Feb 9.6700-9.7700

Aug NC 9.6775-9.8275

15 pct protein 9.6700-9.7700

16 pct protein 9.6700-9.7700

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US 2 Yellow Corn in dollars per CWT

Domestic-single rail cars

Delivered full coast-BN NA

Delivered to Portland 15.5000-15.5250

Rail and Truck del to Willamette Vly NA

Rail del to Yakima Valley NA

Truck del to Yakima Valley 15.2625-15.6875

US 2 Heavy White Oats in dollars per CWT ** 13.5000

** Not well tested.

Exporter Bids Portland Rail/Barge Jan 2013

Averages in Dollars per bushel

US 1 Soft White by Unit Trains and Barges 8.5300

US 1 Hard Red Winter (Ordinary protein) 8.9100

US 1 Hard Red Winter (11.5% protein) 9.2100

US 1 Dark Northern Spring (14% protein) 9.4800

Source: USDA Market News Service, Portland, Ore.