January 13, 2026
                                                                  
                                   Portland Price Trends
                 01-01-25    08-01-25    12-01-25    01-06-26   01-13-26
#1 SWW (bus)        5.90        6.15        6.10        5.90       5.90
White Club          6.05        6.30        6.45        6.25       6.25
DNS 14%             6.71        6.41        6.51        6.47       6.46
HRW 11.5%           6.33        5.88        5.87        5.91       5.92
#2 Corn (ton)     224.00      190.00      200.00      206.00     210.00
#2 Barley         170.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast wheat markets opened the week on a mostly sideways
trek, as cash prices held near week-ago levels. Exporter bid structures
show white wheat and hard red winter flat through February, while dark
northern spring wheat bids reflect a nickel a month carry into March.
   Crop Report...USDA raised projected export demand for U.S. white wheat
which dropped ending stocks to 77 million bushels. If exports reach this
level, the stocks-to-use ratio would drop 4% from last month to 26% which
would be the lowest level since the 2021/22 marketing year.
   Shipments...Weekly export inspections showed a marked improvement for
wheat movement off U.S. ports, with the emphasis remaining on shipments
of row crops. Overall wheat loadings of 11.6 million bushels puts year-
to-date loadings at 572 million bushels, which stands 19% ahead of last
year at this time. Hard red winter registered 4.1 million bushels, hard
red spring moved 3.1 million and soft white loadings were at 2.2 million.
West coast exporters shipped 5.1 million bushels of wheat, going mostly
to The Philippines, along with 18.3 million bushels of corn and soybean
shipments of 12.4 million bushels.

                                   - Norm Ruhoff  Contributing Analyst

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