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                                                      May 11, 2021
                                                                  
                                   Portland Price Trends
                 05-01-20    08-01-20    04-01-21    05-04-21   05-11-21
#1 SWW (bu)         6.06        5.60        6.70        8.00       8.40
White Club          7.56        6.00        6.70        8.00       8.40
DNS 14%             6.77        6.21        6.99        8.68       8.73
HRW 11.5%           6.33        5.71        6.85        8.14       8.30
#2 Corn (ton)     144.00      151.00      240.00      308.00     314.00
#2 Barley         130.00      130.00      180.00      180.00     180.00

   Wheat...A snap donation tender for Yemen kept a spur in west coast
white wheat markets this week, strengthening basis levels and keeping
exporters on the hunt for nearby shipments.  Dark northern spring and
hard red winter also recovered with stronger futures today.
   Crop Progress...A slightly cooler week with scattered precipitation
stablized winter wheat conditions in Idaho and Washington, but Oregon
saw continued deterioration.  The three-state weighted crop index held 
at 92% of normal, as good to excellent for Washington gained 4 points
to 61% and Idaho held at 58%.  Oregon dropped another 4 points out of
that category and the poor to very poor rating climbed 7 points to 42%.
   Shipments...Weekly export inspections showed another strong week for
U.S. wheat shipments, coming in at 20 mb to put the year-to-date total
at 871 and 1% ahead of a year ago. Hard red winter registered 9.8 mb to
lead the pack, but soft white wheat also had another relatively strong 
week with 5.7 mb.  Hard red spring movement slipped to just 2.9 mb for
the week.  China was the top destination off the west coast, taking 7.3
mb of mostly white wheat.

                                   -Norm Ruhoff  Contributing Analyst

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