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                                                      July 30, 2020
                                   Portland Price Trends
                 07-01-19    08-01-19    06-01-20    07-23-20   07-30-20
#1 SWW (bu)         6.00        5.90        6.08        5.75       5.75
White Club          6.00        5.90        7.33        6.25       6.25
DNS 14%             6.24        5.98        6.81        6.29       6.24
HRW 11.5%           5.59        5.36        6.12        5.79       5.77
#2 Corn (ton)     182.00      170.00      154.00      152.00     151.00
#2 Barley         140.00      140.00      130.00      130.00     130.00

   Wheat...West coast wheat markets put in a mostly sideways week, as all
three classes of wheat were within a nickel of last Thursday. White wheat
basis remained somewhat defensive, with harvest movement muting any upside
in Chicago.  Bid structures also show markets are mostly flat into fall.
   Weekly Sales...USDA reported U.S. wheat sales continue to outpace both
year-ago and average levels, capturing the third straight week of over 20
mb in sales. Another 24.9 mb in commitments over the past week place total
sales at 353 mb, standing 8% ahead of a year ago and 7% above the average
pace.  Top seller was hard red spring at 9.1 mb and with 105 mb in sales,
sets 28% ahead of a year ago and 9% above average.  Hard red winter booked
7.7 mb and with 130 mb in sales sets 1% behind a year ago but 16% ahead of
the five-year average.  Soft white also had another solid week with 5.8 mb
in new business, setting 23% ahead of a year ago and 2% above average with
71 mb in the books.
   Top Buyers...The Phillipines led a long list of buyers last week at 4.8
mb, following by Taiwan with 3.8 mb, Brazil with 2.3 mb, Mexico at 2.2 mb
and Malaysia with 2.1 mb.
                                    -Norm Ruhoff  Contributing Analyst

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