January 15, 2026
                                                                  
                                   Portland Price Trends
                 01-01-25    08-01-25    12-01-25    01-08-26   01-15-26
#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        6.54       6.45
HRW 11.5%           6.33        5.88        5.87        6.04       5.93
#2 Corn (ton)     224.00      190.00      200.00      204.00     202.00
#2 Barley         170.00      170.00      160.00      160.00     160.00
 
   Wheat...West coast wheat markets showed cash white wheat prices held
steady through the week, while hard red winter and dark northern spring
wheat prices reflected modest declines against their respective futures
markets. A lethargic pace of export demand and USDA updates continue to
hold futures near the bottom end of recent ranges.
   Weekly Sales...USDA revealed yet another week of meager export demand
for U.S. wheat, coming in at just 5.7 million bushels for all classes of
wheat. Year-to-date commitments of 745 million bushels stands 16% ahead
of a year ago and 19% above average. Hard red spring booked 3.2 million
bushels and with 191 million in commitments is 9% below a year ago but 
1% ahead of the five-year average pace. White wheat secured 2.4 million
bushels, which puts sales at 170 million, slipping 4% behind a year ago
but 15% above average. Hard red winter lost ground with 200,000 bushels
in net cancellations, leaving commitments at 268 million bushels which 
is 79% ahead of a year ago and 49% above average.

                                 - Norm Ruhoff  Contributing Analyst

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