May 1, 2026
                                                                  
                                   Portland Price Trends
                 05-01-25    08-01-25    04-01-26    04-24-26   05-01-26
#1 SWW (bus)        6.25        6.15        6.20        6.30       6.30
White Club          6.40        6.30        6.55        6.65       6.65
DNS 14%             6.60        6.41        7.12        7.48       7.37
HRW 11.5%           5.62        5.88        6.64        7.09       7.66         
      
#2 Corn (ton)     218.00      190.00      204.00      209.00     215.00
#2 Barley         170.00      170.00      160.00      160.00     160.00
 
   Wheat...With the exception of white wheat, west coast markets entered
the new month reflecting the recent strength across the futures complex.
White wheat bids have seen a precipitous weakening in basis levels over 
the past week, with that spread slipping into negative numbers as limited 
demand and exceptional crop prospects weigh on market. In contrast, both 
red wheat markets closed the week posting the best bids in nearly 2 years.  
   Weekly Sales...USDA reported better than expected export demand for
U.S. wheat last week, coming in at more than 12 million bushels for both
old and new crop positions. Old crop sales of 6.6 million bushels placed
commitments at 907 million bushels, which is 16% ahead of a year ago and
19% above the five-year average pace. Hard red spring was the top seller
with 2.6 million bushels, followed by soft white wheat with 1.6 million
and hard red winter with 1 million. New crop sales of 5.7 million bushels
puts commitments for the coming year at 55 million bushels, which is 27%
behind late April last year. Indonesia and Taiwan were the top buyers. 

                                  - Norm Ruhoff  Contributing Analyst

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