Pacific Northwest Weekly Grain Summary (Part 1)

PORTLAND - Feb 4/16 - SNS -- Part one of the USDA's week ending summary of price and export trade activity through U.S. Pacific Northwest ports.

Portland Weekly Grain Review
Pacific Northwest Weekly Grain Summary
   Pacific Northwest Market Summary:  Cash wheat bids for February delivery ended
the reporting week on Thursday February 4, mixed compared to last week's noon bids
for February delivery.
   March wheat futures ended the reporting week on Thursday, February 4, mixed as
follows compared to last week's closes:  Chicago wheat futures were 0.50 of a cent
higher at 4.7275, Kansas City wheat futures were five cents lower at 4.5975 and
Minneapolis wheat futures trended 0.75 of a cent lower at 4.9450.  Chicago March
corn futures trended three cents higher at 3.6850 and March soybean futures closed
6.75 cents higher at 8.7450.
   Bids for US 1 Soft White Wheat delivered to Portland in unit trains or barges
during February for ordinary protein were 5.32-5.3775, 0.50 of a cent to two cents
per bushel higher than last Thursday's bids for the same delivery period.  Some
exporters were not issuing bids for nearby delivery.  There were no white club
wheat premiums for this week or last week.  One year ago bids for US 1 Soft White
Wheat any protein for February delivery by unit trains and barges to Portland were
not available and bids for White Club Wheat were also not available.  Forward month
bids for soft white wheat ordinary protein were as follows: March 5.32-5.3775.  One
year ago, forward month bids for soft white wheat for any protein were as follows:
March and April 6.35-6.54 and August New Crop 6.00-6.17.
   Bids for US 1 Soft White Wheat guaranteed maximum 10.5 percent protein during
February were 6.1275-6.38, mixed, from 0.50 of a cent to seven cents per bushel
lower compared to last week's bids for February delivery.  White club wheat
premiums for guaranteed maximum 10.5 percent protein soft white wheat were 1.00 to
1.45 cents per bushel over soft white wheat bids this week compared to 1.00 to 1.70
last week.  One year ago bids for US 1 Soft White Wheat any protein for February
delivery by unit trains and barges to Portland were 7.11-7.40 and bids for White
Club Wheat were 9.11-10.05.  Forward month bids for soft white wheat guaranteed
10.5 percent proteins were as follows:  March 6.1775-6.38, April and May 6.2175-
6.38 and August New Crop 5.4975-5.5475.  One year ago, forward month bids for soft
white wheat for any protein were as follows:  March 7.11-7.40, April and May 7.14-
7.40 and August New Crop 6.11-6.37.
   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for February delivery
were mixed, from five cents lower to five cents per bushel higher compared to last
week's noon bids for February delivery.  This week, bids were as follows:  February
5.5475-5.5975, March 5.4475-5.5975, April and May 5.5975-5.6475.
   Bids for non-guaranteed 14.0 percent protein US 1 Dark Northern Spring Wheat for
Portland delivery during February were 0.75 to 5.75 cents per bushel lower than
last week's noon bids for the same delivery period.  Some exporters were not
issuing bids for nearby delivery.  This week, bids for non-guaranteed 14 percent
protein were as follows:  February 5.9950-6.2450, March 6.0450-6.2450, April and
May 6.2025-6.3025.
   Coarse feeding grains:  Bids for US 2 Yellow Corn delivered full coast Pacific
Northwest - BN shuttle trains for February delivery were two cents higher from
4.5050-4.5350 per bushel.  Forward month corn bids were as follows:  March 4.5050-
4.5250, April and May 4.5150-4.5550, June and July 4.5275-4.5475.  Bids for US 1
Yellow Soybeans delivered full coast Pacific Northwest - BN shuttle trains for
February delivery were 4.75 to 6.75 cents higher from 9.8450-9.8950 per bushel.
Forward month soybean bids were as follows:  February 9.7775-9.8475, March 9.6450-
9.7750, April 9.4750 and October/November 9.6325-9.6825.  Bids for US 2 Heavy White
Oats for February delivery trended steady at 3.92 per bushel.
   Outstanding Export Sales:  Outstanding U.S. white wheat export sales as of
January 28, 2016 for the marketing year beginning June 1, 2015 and ending May 31,
2016, in 1000 MT, totaled 933.1 thousand MT compared to 932.4 one week ago, and
998.5 thousand MT one year ago.  Outstanding white wheat export sales for the 2015-
2016 marketing year were to the following countries in 1000 MT:  South Korea 189.8,
Philippines 137.1, Japan 95.4, Yemen 45.0, Indonesia 30.0, Thailand 29.5, Taiwan
19.6, Nigeria 15.5, Malaysia 14.8, Colombia 10.5, Venezuela 10.0, Guatemala 8.0,
Vietnam 6.9, El Salvador 6.5, Peru 5.0, Mexico 2.3, Sri Lanka 2.0, Canada 1.4,
United Arab Emirates 0.7, Hong Kong 0.4, Israel 0.3, Nicaragua 0.3, and total
unknown 302.1.  Accumulated white wheat export shipments as of January 28, 2016, in
1000 MT for the 2015-2016 marketing year, totaled 2,251.9 compared to 2,559.9 one
year ago.
   Outstanding U.S. barley export sales as of January 28, 2016 for the marketing
year beginning June 1, 2015 and ending May 31, 2016, in 1000 MT, totaled 3.6
compared to 3.6 last week and 30.3 one year ago.  Outstanding barley export sales
for the 2015-2016 marketing year in 1000 MT were to the following countries in 1000
MT:  Japan 2.3, South Korea 0.8 and Taiwan 0.5.  Accumulated barley export
shipments as of January 28, 2016 were 22.6 thousand MT compared to 107.5 one year
ago.
   Pacific Northwest Export News:  There were 16 grain vessels in Columbia River
ports on Thursday, February 4, with three docked compared to 20 last week with five
docked.  There were no new confirmed export sales this week from the Commodity
Credit Corporation (CCC) of the USDA.
Source:  USDA Market News, Portland, OR

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