December 23, 2025
                                                                  
                                   Portland Price Trends
                 12-01-24    01-01-25    11-01-25    12-16-25   12-16-25
#1 SWW (bus)        5.95        5.90        5.95        6.00       5.90
White Club          6.10        6.05        6.30        6.35       6.25
DNS 14%             6.67        6.71        6.43        6.41       6.53
HRW 11.5%           6.16        6.33        6.07        5.71       5.93
#2 Corn (ton)     212.00      224.00      200.00      203.00     210.00
#2 Barley         150.00      170.00      160.00      160.00     160.00
 
   Wheat...The holiday-shortened week saw west coast cash wheat markets
regain some ground against the modest recovery across the futures complex.
White wheat bids remained somewhat defensive after the recent Chinese
cancellation, with nearby basis to Chicago weakening about 14 cents over
the past week. Weather conditions remain unseasonably mild across wheat
growing regions of the Pacific Northwest.
   Shipments...Weekly export inspections showed a rebound for U.S. wheat 
shipments last week, coming in at 23 million bushels to put year-to-date
loadings at 542 million, which is up 23% from a year ago. Hard red winter
was the top mover with 8.4 million bushels, followed by white wheat with
6.8 million and hard red spring at 5.2 million. West coast exporters put
out 12.7 million bushels of wheat to a long list of destinations, which
included China. A total of 24.5 million bushels of corn was also loaded
off PNW ports.
                                   - Norm Ruhoff  Contributing Analyst

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