September 10, 2010
                                                                  
                                   Portland Price Trends
                 09-01-09    01-05-10    08-03-10    09-02-10    09-10-10
#1 SWW (bu)         4.85        5.15        6.05        6.60        6.65
White Club          7.35        8.15        6.30        6.85        6.90
HRS 14%             6.07        6.98        7.47        8.30        8.52
HRW 11.5%           5.40        5.85        6.34        7.26        7.64
#2 Corn (ton)     151.00      185.00      174.00      191.00      200.00
#2 Barley         110.00      130.00      122.00      145.00      148.00

   Wheat...It was another week of fairly tight trading ranges for white
wheat markets, holding mostly within a dime of the $6.75 high from early
in the week.  Strength in Chicago and continued demand held bids steady,
but spreads to Chicago December futures slipped to about 70 cents under
on nearby positions.
   Weekly Sales...USDA reported total US wheat demand down slightly from
the prior week at 35 mb.  Hard red winter made up for declines on other
classes, capturing 21 mb for the week.  Hard red spring sales were down
40% from last week at 9 mb, putting the year-to-date total at 141 mb and
89% ahead of a year ago.  Soft white demand held steady at 5 mb for the
week, with a current year tally of 90 mb that is 27% ahead of last year.
   Crop Report..USDA acknowledged improved demand for nearly all classes
of wheat, cutting projected US carryout 50 mb.  White wheat exports were
bumped 10 mb from last month, lowering carryout to 86 mb.

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