November 25, 2025
                                                                  
                                   Portland Price Trends
                 11-01-24    01-01-25    10-01-25    11-18-25   11-25-25
#1 SWW (bus)        6.00        5.90        5.80        6.00       6.05
White Club          6.15        6.05        6.15        6.35       6.40
DNS 14%             6.75        6.71        6.27        6.58       6.51
HRW 11.5%           6.42        6.33        5.65        6.05       5.85
#2 Corn (ton)     209.00      224.00      196.00      206.00     204.00
#2 Barley         150.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast white wheat bids opened the holiday-shortened week
on a steady note, holding above the $6 mark. This has notably firmed-up
spot basis levels, which have gained nearly 30 cents against the March
Chicago futures contract over the past week. Updated export sales show
recent demand remains supportive.
   Crop Progress...Pacific Northwest winter wheat conditions showed a
slight decline over the past week. Good to excellent ratings for Idaho
slipped 3 points to 52%, Oregon dropped 2 points to 51% and Washington
gained a point to 50%.
   Shipments...Weekly export inspections showed a rebound in U.S. wheat
shipments last week, coming in nearly double the prior week. Loadings of
17.4 million bushels places year-to-date shipments 20% ahead of a year 
ago at 472 million bushels. Hard red spring was the top mover with 5.6
million bushels, followed by hard red winter with 4.4 million and white
wheat with 3.8 million. West coast exporters moved 9.5 million bushels
of wheat, going mostly to The Philippines, along with moving 20 million 
bushels of corn.     
                                 - Norm Ruhoff  Contributing Analyst

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