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MFA Agri Services - Tipton - California - Versailles
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June 12, 2025
Portland Price Trends
06-01-24 08-01-24 05-01-25 06-05-25 06-05-25
#1 SWW (bus) 6.70 5.65 6.25 6.20 6.15
White Club 6.70 5.65 6.40 6.35 6.30
DNS 14% 8.04 6.58 6.60 6.92 6.92
HRW 11.5% 7.40 6.04 5.62 5.87 5.69
#2 Corn (ton) 220.00 199.00 218.00 213.00 209.00
#2 Barley 155.00 150.00 170.00 170.00 170.00
Wheat...Report day from USDA did little to change the direction of the
wheat complex as futures markets drifted for the fourth straight day and
settled near the low end of a two-week range, with the exception of hard
red spring wheat futures. West coast wheat bids showed white wheat and
dark northern spring wheat holding mostly steady week-to-week, while hard
red winter drifted about 20 cents lower but attracting export demand.
Weekly Sales...USDA reported another relatively good week of export
demand for U.S. wheat, coming in at 21 million bushels to put commitments
at 217 million bushels which is 22% ahead of a year ago and off to the
best start since 2019. Hard red winter sales continue to rebound, with
another 8.7 million bushels in sales last week. This places commitments
at 85 million bushels which is more than double a year ago and 70% above
the five-year average pace. Hard red spring booked 4.9 million bushels
and with 57 million in commitments, sets 7% below a year ago but slightly
above average. Soft white registered 2.1 million bushels to put sales at
31 million, which is 23% behind a year ago and 15% below average.
Buyer Ranking...USDA reported that Mexico was the top U.S. wheat buyer
for the fifth straight year. Japan claimed the number two ranking for the
third straight year, and Nigeria rebounded from the number six buyer last
year to the number three buyer this past marketing year.
- Norm Ruhoff Contributing Analyst
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