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                                                      June 17, 2021
                                                                  
                                   Portland Price Trends
                 06-01-20    08-01-20    05-01-21    06-10-21   06-17-21
#1 SWW (bu)         6.08        5.60        7.85        8.50       8.50
White Club          7.33        6.00        7.85        8.50       8.50
DNS 14%             6.81        6.21        8.59        8.70       8.59
HRW 11.5%           6.12        5.71        8.03        7.55       7.12
#2 Corn (ton)     154.00      151.00      299.00      300.00     278.00
#2 Barley         130.00      130.00      180.00      180.00     180.00

   Wheat..Another week and another new high was posted for west coast soft
white wheat prices, moving above $8.50 for the first time since the spring 
of 2013.  Basis levels also strengthened to 190 over Chicago July futures,
the highest level since February 2008.  Scattered thunderstorms provided
some relief to dry conditions this week, but both winter and spring wheat
crops remain marginal.
   Weekly Sales...Surging U.S. wheat prices tempered buying interest over 
the past week, as total sales came in at 10.5 mb to put commitments at 213
mb; 8% behind a year ago and 10% below the five-year average pace. Hard red
winter was top seller with 4.8 mb and with 66 mb in sales, sets 23% behind
a year ago and 18% below average. Hard red spring garnered 3 mb to put year-
to-date bookings at 63 mb, which stands 9% below a year ago and 11% off the
average pace. Soft white registerd 1.9 mb in sales and with 45 mb in sales,
is running 1% behind a year ago and 11% below average.  Japan was top buyer
last week with 3.5 mb.

                                       -Norm Ruhoff  Contributing Analyst

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