Portland Daily Grain Report for Thursday, Feb. 14, 2013

Bids as of 9:30 a.m. Pacific time; subject to change.

Bids for grains delivered to Portland, Oregon during February by unit trains and barges, in dollars per bushel, except oats, corn and barley, in dollars per cwt. Bids for soft white wheat are for delivery periods as specified. All other wheat bids are for full February delivery. Bids for corn are for 30 day delivery.

March wheat futures trended steady to 6.75 cents per bushel lower compared to Wednesday's closes.

Bids for US 1 Soft White Wheat for February delivery in unit trains or barges were not fully established but were indicated as mixed, from 6.75 cents lower to two cents per bushel higher than Wednesday's noon bids for February delivery. Some exporters were not issuing bids for nearby delivery.

Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for February delivery were not fully established in early trading but were indicated as steady to one cent per bushel higher compared to Wednesday's noon bids for the same delivery period. Some exporters raised their basis which supported cash bids.

Bids for 14 percent protein non-guaranteed US 1 Dark Northern Spring Wheat for February delivery were not fully established in early trading but were indicated as mixed, from 5.75 cents lower to 9.25 cents per bushel higher than Wednesday's noon bids. Lower Minneapolis March wheat futures weighed on bids, while a higher basis bid by some exporters were supportive to bids.

Bids for US 2 Yellow Corn delivered to Portland in single rail cars for domestic use trended 2.50 cents per cwt lower than Wednesday's noon bids. Corn bids truck delivered to the Yakima Valley also trended 2.50 cents per cwt lower than Wednesday's noon bids. Lower Chicago March corn futures pressured cash corn bids in early trading.

All wheat bids in dollars per bushel

US 1 Soft White Wheat - delivered by Unit Trains and Barges *

Feb mostly 8.5750, ranging 8.5000-8.6375

Mar 8.5000-8.6875

Apr 8.6150-8.8000

May 8.6150-8.8000

Aug NC 7.6450-7.9450

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US 1 White Club Wheat - delivered by Unit Trains and Barges *

Feb mostly 8.5750, ranging 8.5000-8.6375

*Not fully established.

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US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or better) *

Ordinary protein 8.5625-8.8825

10 pct protein 8.5625-8.8825

11 pct protein 8.7625-9.0225

11.5 pct protein

Feb 8.8625-9.1025

Aug NC 8.5875-8.7875

12 pct protein 8.9125-9.1325

13 pct protein 9.0025-9.1925

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US 1 Dark Northern Spring Wheat (with a minimum of 300 falling numbers, a maximum of 0.5 part per million vomitoxin, and a maximum of one percent total damage) *

13 pct protein 9.0725-9.1725

14 pct protein

Feb 9.2725-9.3725

Aug NC 9.2875-9.3375

15 pct protein 9.2725-9.3725

16 pct protein 9.2725-9.3725

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US 2 Yellow Corn in dollars per CWT

Domestic-single rail cars

Delivered full coast-BN NA

Delivered to Portland 14.5000-14.5250

Rail and Truck del to Willamette Vly NA

Rail del to Yakima Valley NA

Truck del to Yakima Valley 14.3625-14.8375

US 2 Heavy White Oats in dollars per CWT ** 13.5000

** Not well tested.

Exporter Bids Portland Rail/Barge Jan 2013

Averages in Dollars per bushel

US 1 Soft White by Unit Trains and Barges 8.5300

US 1 Hard Red Winter (Ordinary protein) 8.9100

US 1 Hard Red Winter (11.5% protein) 9.2100

US 1 Dark Northern Spring (14% protein) 9.4800

Source: USDA Market News Service, Portland, Ore.