May 23, 2013
                                                                  
                                   Portland Price Trends
                 05-01-12    08-01-12    04-01-13    05-16-13    05-23-13
#1 SWW (bu)         7.15        8.85        7.95        7.77        8.00
White Club          7.15        8.85        7.95        7.77        8.00
HRS 14%             9.17        9.90        9.18        9.19        9.33
HRW 11.5%           7.56        9.43        7.56        8.81        8.89
#2 Corn (ton)     280.00      339.00      280.00      285.00      292.00
#2 Barley         212.00      250.00      212.00      240.00      240.00

   Wheat...A fresh slate of export demand and tight hands on remaining old
crop white wheat supplies helped firm up white wheat basis and push nearby
cash bids back to the $8 mark this week.  A CCC donation tender on a total
of 2.2 mb for late June to Yemen and Bangladesh was the primary driver and
old crop basis moved back to 100 over Chicago July. Spot deliveries on the
red wheats also were posted at a premium, with new crop holding firm.
   Weekly Sales...Total old crop wheat sales came in at 8.8 mb last week,
putting the year-to-date total 3% behind a year ago at 996 mb.  Top seller
was hard red winter wheat at 6.6 mb.  New crop sales totaled 26 mb, topped
by 7.8 mb of hard red spring wheat.  Total new crop commitments now stand
at 177 mb, compared to 122 mb a year ago and 147 mb two years ago.  Sales
of soft red winter account for 71 mb of the total, followed by 40 mb hard
red winter, 38 mb of hard red spring and 26 mb of soft white wheat.
   
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