Pacific Northwest Weekly Grain Summary (Part 2)

PORTLAND - Jun 10/10 - SNS -- Part two of the USDA's week ending summary of price and export trade activity through U.S. Pacific Northwest ports.

Portland Weekly Grain Review Part 2
Pacific Northwest Add Weekly Grain Summary
   Cash Soft White Wheat - Pacific Northwest:  Bids for US 1 Soft White Wheat,
any protein and maximum 10.5 percent protein, for June Portland delivery ended
the reporting week on Thursday, June 10, at 4.45 to 4.50, mostly 4.48, 15 to
17 cents per bushel lower compared to last Thursday's noon bids of 4.60 to
4.67, mostly 4.60.  White club wheat premiums for any protein were zero to
3.00, mostly 75 cents per bushel over bids for soft white wheat.  Last
Thursday's premiums were also zero to 3.00, mostly 75 cents per bushel over
soft white wheat bids.  One year ago bids for any protein US 1 Soft White
Wheat for June delivery were 6.00 to 6.20, mostly 6.10.  Premiums for White
Club Wheat one year ago for June delivery were zero to 80 cents per bushel,
mostly zero cents over bids for any protein soft white wheat.  Nearby bids for
any protein US 1 Soft White wheat began the reporting week Friday at mostly
4.50, fell to mostly 4.49 on Monday, then to 4.46 Tuesday, and remained at
that level on Wednesday.  Bids ended the reporting week today (Thursday) at
mostly 4.48.  Lower Chicago July wheat futures weighed on bids.  Exporters
were not issuing premiums for soft white wheat with a maximum of 10.5 percent
protein.  New confirmed export sales of white wheat made this week were to
Japan.  Forward month bids for soft white wheat, any protein, were as follows:
July 4.45 to 4.50, August New Crop 4.45, September 4.45 to 4.50, and October
4.50 to 4.55.  One year ago, forward month bids for any protein soft white
wheat were as follows:  July and August New Crop 6.00 to 6.20, September 6.05
to 6.25, and October 6.10 to 6.30.  Bids for maximum 10.5 percent protein soft
white wheat one year ago were as follows:  June, July and August New Crop 6.00
to 6.20 September 6.05 to 6.25, and October 6.10 to 6.30.
   Outstanding U.S. white wheat export sales as of June 3, 2010 for the
marketing year beginning June 1, 2010 and ending May 31, 2011, totaled 897.8
thousand MT compared to 679.7 thousand MT on May 27, 2010, and 888.0 thousand
MT one year ago.  Outstanding white wheat export sales for the 2010-2011
marketing year were to the following countries in 1,000 MT:  Philippines
375.4, South Korea 178.4, Japan 118.3, Sri Lanka 55.0, Nigeria 24.1, Thailand
22.7, Indonesia 20.0, Malaysia 20.0, Taiwan 11.3, El Salvador 6.3, Guatemala
5.8, Canada 4.4, Vietnam 1.0, Hong Kong 0.6, and total unknown 54.5.
Accumulated white wheat export shipments as of June 3, 2010, in 1,000 MT for
the 2010-2011 marketing year, totaled 11.7 compared to 9.0 one year ago.
   Outstanding U.S. barley export sales as of June 3, 2010 for the marketing
year beginning June 1, 2010 and ending May 31, 2011, in 1,000 MT, totaled 19.1
compared to 0.0 on May 27, 2010 and 20.7 one year ago.  Outstanding barley
export sales were to the following countries in 1,000 MT:  Canada 18.2, and
Mexico 0.9.  Accumulated barley export shipments as of June 3, 2010 were 0.4
thousand MT compared to 0.4 one year ago.
      Coarse feeding grains:  Bids for US 2 Barley delivered to the coast in
unit trains or barges during June were not well tested as most exporters were
not issuing bids for barley.  Bids for US 2 Barley delivered to the inland
feeding areas of Hermiston, Oregon and Yakima, Washington were also not well
tested.  Bids for US 2 Yellow Corn delivered to Portland in single rail cars
were 2.25 per ton lower at 160.00 compared to last Thursday's noon bids of
162.25.  Bids for US 2 Yellow Corn truck delivered to the inland feeding areas
of Yakima, Washington, and Hermiston, Oregon were mixed, from 2.25 lower to 25
cents per ton higher, from 155.75 to 167.25 compared to last Thursday's noon
bids of 155.50 to 169.50.  Lower Chicago July corn futures for the week
pressured cash corn bids.  Bids for US 2 Heavy White Oats for June delivery
were not available.
Source: USDA Market News Service, Portland, OR

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