April 12, 2022 Portland Price Trends 04-01-21 08-01-21 03-01-22 04-05-22 04-12-22 #1 SWW (bu) 6.70 9.25 11.25 11.00 11.50 White Club 6.70 10.75 12.75 11.50 12.00 DNS 14% 6.99 10.33 11.59 11.84 12.36 HRW 11.5% 6.85 8.33 11.83 11.76 12.71 #2 Corn (ton) 241.00 251.00 339.00 355.00 362.00 #2 Barley 180.00 200.00 260.00 270.00 270.00 Wheat...Sharp gains in futures markets this morning saw nearby basis levels weaken for white wheat, while hard red winter and red spring saw basis hold steady. Growers continue to focus on spring planting work, with smaller spring wheat plantings in Idaho and Washington going in at an average pace. Near-record cold temps have been accompanied by a rare blanketing of mid-April snow across many areas of the PNW this week. Crop Progress...USDA reported a slight drop in PNW winter wheat crop ratings over the past week, as the three-state weighted index slipped a point to 92% of average. Idaho saw good to excellent increase 5 points to 50% and Oregon was up 9 points to 56%. Washington ratings countered those improvements with good to excellent slipping 9 points to 56%, and poor to very poor climbing 4 points to 13%. Shipments...Weekly export inspections showed an improved pace of U.S. wheat loadings last week, coming in at 15.1 mb to put shipments for the year at 647 mb and 18% behind a year ago. Hard red spring moved 6.4 mb, hard red winter was 5.2 mb and white wheat registered 2.2 mb. The top wheat destination off the PNW was the Philippines, while Taiwan, China and South Korea each took on about 2 mb of corn. China also accounted for smaller amounts of sorghum and soybeans. -Norm Ruhoff Contributing Analyst Copyright 2022 DTN/Telvent. All Rights Reserved.