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                                                      October 1, 2020
                                                                  
                                   Portland Price Trends
                 10-01-19    01-01-20    09-01-20    09-24-20   10-01-20
#1 SWW (bu)         5.90        6.15        5.35        5.55       5.70
White Club          5.90        7.65        5.70        5.90       6.05
DNS 14%             6.58        7.21        6.51        6.52       6.55
HRW 11.5%           5.61        6.26        6.20        6.26       6.49
#2 Corn (ton)     173.00      172.00      163.00      164.00     164.00
#2 Barley         150.00      140.00      130.00      130.00     130.00

   Wheat...West coast wheat markets continued to see firmer white wheat
prices this week, reflecting in stronger basis levels and supported by 
recent export demand.  Basis remains near three-year lows but spot cash
bids reached the best levels in over two months.
   Weekly Sales...USDA reported a rebound in U.S. wheat export demand as
sales came in above the four-week average.  Overall commitments increased
by 18.6 mb last week, putting total sales at 514 mb which sets 8% ahead
of a year ago and 9% above average.  Hard red winter posted the best sale
tally in a month at 10.4 mb, placing sales 8% ahead of a year ago and 17%
ahead of the five-year average pace.  White wheat booked 4.3 mb and with 
110 mb in commitments, sets 27% ahead of a year ago and 15% above average.
Hard red spring sales of 3.9 mb put the year-to-date total at 149 mb; 14%
ahead of a year ago and 7% above average.
   Top Buyers...Mexico was the big U.S. wheat buyer with 7.7 mb of mostly
hard red winter, followed by Taiwan with 3.3 mb, South Korea with 2.3 mb,
Unknown at 2.2 mb and Japan with 2.1 mb.
   
                                    -Norm Ruhoff  Contributing Analyst

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