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                                                      July 2, 2020
                                                                  
                                   Portland Price Trends
                 07-01-19    08-01-19    06-01-20    06-25-20   07-02-20
#1 SWW (bu)         6.00        5.90        6.08        5.80       5.75
White Club          6.00        5.90        7.33        6.80       6.25
DNS 14%             6.24        5.98        6.81        6.59       6.53
HRW 11.5%           5.59        5.36        6.12        5.76       5.74
#2 Corn (ton)     182.00      170.00      154.00      155.00     160.00
#2 Barley         140.00      140.00      130.00      130.00     130.00

   Wheat...Row crop strength from the plantings report this week provided
some support to the wheat futures complex, allowing west coast prices to
recover ground from earlier in the week. Club wheat premiums took another 
hit this week as good new crop conditions improve production prospects.
   Weekly Sales...USDA reported weekly sales of 15.2 mb, putting current
year commitments at 267 mb; up 1% from a year ago and right on track with
the five-year average pace.  Top seller for the week was hard red winter
with 6.6 mb, putting sales at 102 mb which is 4% below a year ago but 15%
ahead of average.  White wheat registered a good week at 5.2 mb and with 
55 mb in commitments and sets 15% ahead of last year but 5% below average. 
Hard red spring wheat booked 4.5 mb to put sales at 77 mb, which sets 16% 
over a year ago but 3% behind average.
   Top Buyers...Thailand registered as top buyer of U.S. wheat last week 
with 3.3 mb, followed by Yemen with 2.9 mb, Japan with 2 mb, Nigeria with
1.8 mb and Mexico with 1.5 mb.

                                    -Norm Ruhoff  Contributing Analyst

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