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                                                      January 21, 2021
                                   Portland Price Trends
                 01-01-20    08-01-20    12-01-20    01-14-21   01-21-21
#1 SWW (bu)         6.15        5.60        6.35        7.20       7.25
White Club          7.65        6.00        6.60        7.35       7.40
DNS 14%             7.21        6.21        6.59        7.54       7.50
HRW 11.5%           6.26        5.71        6.69        7.76       7.83
#2 Corn (ton)     175.00      151.00      193.00      226.00     222.00
#2 Barley         140.00      130.00      135.00      150.00     150.00

   Wheat...West coast cash wheat markets have followed a roller-coaster
performance in futures markets over the past week, moving higher against
an early-week rally.  White wheat bids remain steadfast near $7.25 as the
nearby basis moved in a range of 40 cents over the last two weeks.  Hard
red winter basis, however, weakened 20 cents on the rebound in KC futures.
   Shipments...Weekly export inspections showed a solid rebound in export
loading of U.S. wheat last week, coming on the shoulders of red spring and
white wheat.  Total shipments were nearly double the pace of the past two
weeks at 19.2 mb, putting year-to-date shipments back in line with a year
ago at 591 mb.  Hard red spring saw 6.1 mb shipped, soft white wheat with
5.5 mb and hard red winter at 3.5 mb.  Top destinations off the west coast
was Japan with 4.1 mb, followed the Philippines and Indonesia with 2.1 mb
each and Sri Lanka at 1.9 mb.
                                    -Norm Ruhoff  Contributing Analyst

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