March 4, 2021
                                                                  
                                   Portland Price Trends
                 03-01-20    08-01-20    02-01-21    02-25-21   03-04-21
#1 SWW (bu)         5.95        5.60        7.30        7.65       7.60
White Club          7.45        6.00        7.45        7.65       7.60
DNS 14%             6.93        6.21        7.33        7.50       7.46
HRW 11.5%           6.08        5.71        7.55        7.75       7.52
#2 Corn (ton)     176.00      151.00      220.00      222.00     220.00
#2 Barley         135.00      130.00      155.00      160.00     170.00

   Wheat...West coast white wheat markets remained well supported through
the week, with USDA revealing that China continues to purchase U.S. white
wheat.  Spot basis levels move to 104 over, as exporters switched bids to
the Chicago May futures.  Hard red winter saw a rare week to week decline,
as higher prices have pared export demand.
   Weekly Sales...USDA reported another subdued week of export demand for
U.S. wheat, coming in at 8.1 mb to put overall year-to-date commitments at
874 mb; 3% ahead of a year ago adn 7% above the five-year average pace for
late February.  Top seller was hard red winter with 3.2 mb, putting sales
7% behind a year ago and 1% below average at 297 mb.  Hard red spring saw
2.5 mb in new sales and with 261 mb in the books, sets 4% above last year
and 8% above average.  Soft white saw further Chineses buying put weekly
sales at 1.6 mb and with 231 mb in commitments, sets 35% ahead of a year
ago and 41% above the five-year average pace.  
   
      
                                    -Norm Ruhoff  Contributing Analyst

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