May 12, 2026
                                                                  
                                   Portland Price Trends
                 05-01-25    08-01-25    04-01-26    05-05-26   05-12-26
#1 SWW (bus)        6.25        6.15        6.20        6.25       6.40
White Club          6.40        6.30        6.55        6.60       6.75
DNS 14%             6.60        6.41        7.12        7.45       7.78
HRW 11.5%           5.62        5.88        6.64        7.19       7.68         
      
#2 Corn (ton)     218.00      190.00      204.00      204.00     2.00
#2 Barley         170.00      170.00      160.00      160.00     1.00
 
   Wheat...USDA acknowledgement of tighter U.S. and world wheat stocks 
spurred a strong rally in wheat futures on Tuesday, with most of those 
gains reflected in the red wheat markets on the west coast. White wheat
bids were defensive, with spot basis swooning to 30 under Chicago, and
hard red winter bids moved to within a dime of dark northern spring.
   Shipments...Weekly export inspections showed another relatively good
week for wheat movement, with shipments of 18.7 million bushels putting
the year-to-date total at 840 million and 13% ahead of a year ago. West
coast exporters moved 9.7 million bushels of wheat along with 5 million
bushels of soybeans and 21 million bushels of corn.
   Crop Progress...Despite further deterioration in Oregon, the three-
state Pacific Northwest winter wheat index held steady at 104% of the
20-year average. Poor to very poor ratings for Oregon climbed to 18%,
with good to excellent off 3% at 55%. Idaho good to excellent gained
a point to 88% and Washington held at 84%. Overall ratings are at the
best levels in 10 years. Open weather allowed spring wheat plantings
to hit the 90% completion mark for both Idaho and Washington.

                             - Norm Ruhoff  Contributing Analyst

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