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                                                      November 22, 2022
                                   Portland Price Trends
                 11-01-21    01-01-22    10-01-22    11-15-22   11-22-22
#1 SWW (bu)        10.60       10.70        9.30        8.95       8.85
White Club         12.60       12.45        9.80        9.45       9.35
DNS 14%            11.72       10.78       10.56       10.54      10.34
HRW 11.5%           9.60        9.81       11.09       10.83      10.35
#2 Corn (ton)     258.00      274.00      303.00      300.00     297.00
#2 Barley         240.00      240.00      240.00      250.00     250.00

   Wheat...West coast white wheat markets continued to show some strength
against Chicago futures in early week trade, as spot basis moved back to
nearly 90 cents over.  Limited farmer selling interest and recent export
demand remain supportive.  Gains in Minneapolis futures relative to KC
have also brought dark northern red spring and hard red winter cash bids 
back to even money.
   Shipments...Weekly export inspections showed a modest improvement for
shipments of U.S. wheat last week, with soybeans continuing to be the big
mover off the west coast.  Total wheat loadings were at 10.2 mb over the
past week, putting the year-to-date total 2% behind a year ago at 377 mb.
West coast port activity showed 2.9 mb of wheat going to Yemen and 27 mb
of soybeans lifted for China.
   Crop Progress...PNW winter wheat conditions held mostly in-line with 
a week ago and while overall ratings are lower than a year ago, emergence
remains good.  Idaho saw good to excellent slip 3 points to 38%, Oregon
slipped 2 points to 71% and Washington dropped 1% to 60%.  Forecasts show
snowfall is expected through the holiday weekend in the northern portions 
of Washington and Idaho.
                                   -Norm Ruhoff  Contributing Analyst

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