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                                                     August 27, 2026
                                                                  
                                   Portland Price Trends
                 08-01-25    08-01-25    07-01-26    08-20-26   08-27-26
#1 SWW (bus)        6.15        6.15        6.40        6.55       6.95
White Club          6.30        6.30        6.75        7.05       7.45
DNS 14%             6.41        6.41        6.63        7.51       7.88
HRW 11.5%           5.88        5.88        6.65        8.11       8.42         
    
#2 Corn (ton)     190.00      190.00      204.00      217.00     2.00
#2 Barley         170.00      170.00      165.00      170.00     1.00
 
   Wheat...It was another week of solid gains in west coast cash wheat
markets, following another surge across the futures complex. Even with
a 40 cent retreat in basis, white wheat approached the $7 mark for the
first time in over 3 years. Good export demand was reported for white
wheat over the past week, including a rare purchase from Sri Lanka.
   Weekly Sales...USDA revealed another relatively good week of export
demand, coming primarily on the shoulders of white wheat. Overall wheat
sales of 14.8 million bushels were near the top end of the range for the
year and put commitments at 304 million bushels. This sets 32 below last
year at this time and 12% below the five-year average pace. White wheat
sales surged to 8.5 million bushels to put commitments at 90 million, a
number which rivals one of the better levels of the past 10 years, and
sets 13% above a year ago and 27% above average. Hard red spring saw
2.2 million bushels in new sales and with 89 million in commitments, is
running 19% below a year ago and 13% below average. Hard red winter saw
only 1.9 million bushels in new sales and with 69 million in commitments,
sets 63% below a year ago and 36% below the average pace.
   Top Buyers...Mexico was the top buyer of U.S. wheat again this week,
with 2.8 million bushels. Japan bought 2.6 million, Vietnam bought 2.4
million, the Philippines also booked 2.4 million and Sri Lanka bought
2.3 million. The last three countries were all white wheat purchases.
   
                               - Norm Ruhoff  Contributing Analyst

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