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February 12, 2026
Portland Price Trends
01-01-25 08-01-25 01-01-26 02-05-26 02-12-26
#1 SWW (bus) 5.90 6.15 5.90 6.00 6.00
White Club 6.05 6.30 6.25 6.35 6.35
DNS 14% 6.71 6.41 6.51 6.56 6.60
HRW 11.5% 6.33 5.88 5.85 6.08 6.18
#2 Corn (ton) 224.00 190.00 200.00 205.00 207.00
#2 Barley 170.00 170.00 170.00 160.00 160.00
Wheat...The late-week rebound across the wheat futures complex shored-
up cash bids for hard red winter and hard red spring, while white wheat
held steady and basis weakened against Chicago. Continued demand and the
ongoing dry conditions across the wheat belts remain supportive.
Weekly Sales...USDA revealed an improved week of export demand for U.S.
wheat, with sales coming in above the four-week average at just under 18
million bushels. Year-to-date commitments of 820 million bushels sets 16%
ahead of a year ago and 20% above the five-year average pace. Top seller
was hard red winter with 7.3 million bushels, putting commitments at 294
million, which is 75% ahead of a year ago and 50% above average. Hard red
spring booked 4.7 million bushels and with 210 million in commitments, is
7% behind a year ago but 1% above average. White wheat secured another 4.1
million bushels, putting sales at 188 million which is 2% below a year ago
but 17% above average.
Top Buyers...The Philippines was the top U.S. wheat buyer last week with
4.7 million bushels of mostly white wheat. Hard red winter sales were driven
by Mexico buying 4.1 million bushels, Indonesia with 2.6 million and Japan
booking 2.4 million. Bangladesh rounded-out the top five, buying 2.3 million
of soft white wheat.
- Norm Ruhoff Contributing Analyst
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