JO_GR110
Portland, OR         Fri  Feb 27, 2009     USDA Market News

Portland Daily Grain Report
Bids as of 9:30 a.m.;   Subject to change

   Bids for grains delivered to Portland, Oregon during February by rail
or barge, 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 and barley bids are for full February
delivery.  Bids for corn are for 30 day delivery.

   May wheat futures in midday trading were two to four cents per bushel
lower compared to Thursdays closes.

   Bids for US 1 Soft White Wheat, any protein and maximum 10.5 percent
protein for February Portland delivery, were not well tested in early
trading but bids were indicated as steady to five cents per bushel lower
compared to Thursdays noon bids.

   Bids for 11.5 percent protein US 1 Hard Red Winter Wheat for February
delivery were not fully established in early trading as some exporters
were not issuing bids for nearby delivery.

   Bids for 14 percent protein US 1 Dark Northern Spring for February
delivery were not fully established in early trading but were indicated
as two cents per bushel lower than Thursdays noon bids in lining up
with the lower Minneapolis May spring wheat futures.  Some exporters
have removed their bids for February delivery.

   Bids for US 2 barley for February delivery were not well tested.

   Bids for US 2 Yellow Corn ranged from 8-3/4 to 10-1/2 cents per cwt
lower compared to Thursdays noon bids in lining up with the lower
Chicago May corn futures.

All wheat bids in dollars per bushel
US 1 Soft White Wheat - Any protein - Rail/Barge delivered *
      Feb                mostly $5.67 , ranging  $ 5.63 -5.70
      Mar                                        $ 5.60 -5.65
      Apr                                        $ 5.60 -5.65
      May                                        $ 5.65 -5.75
      Aug NC                                     $ 5.20 -5.50
_
US 1 Soft White Wheat - ***MAXIMUM 10.5% protein*** - Rail/Barge delivered *
      Feb         ***    mostly $5.67 , ranging  $ 5.63 -5.70
      Mar         ***                            $ 5.65 -5.73
      Apr         ***                            $ 5.70 -5.75
      May         ***                            $ 5.65 -5.75
      Aug NC      ***                            $ 5.20 -5.50
_
US 1 White Club Wheat - Any protein - Rail/Barge delivered *
      Feb                mostly $7.17 , ranging  $ 7.13 -7.25
_
US 1 White Club Wheat - ***MAXIMUM 10.5% protein*** - Rail/Barge delivered *
      Feb         ***    mostly $7.17 , ranging  $ 7.13 -7.25
 * Not fully established.
_
US 1 Hard Red Winter Wheat - (Exporter bids-falling numbers of 300 or
better) *
   Ordinary protein                                NA
   10 pct protein                                  NA
   11 pct protein                                  NA
   11.5 pct protein
      Feb                                          NA
      Aug NC                                     $ 6.04 -6.09
   12 pct protein                                  NA
   13 pct protein                                  NA
   13 pct protein-                                 NA
      Milling Quality Montana Origin
 * Not fully established.
_
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) *
   12 pct protein                                  NA
   13 pct protein                                  NA
   14 pct protein
      Feb                                        $ 7.67 -7.77
      Aug NC                                     $ 6.66 -6.71
   15 pct protein                                  NA
   16 pct protein                                  NA
 * Not fully established.
_
US 2 Barley in    dollars per CWT
 Unit trains & Barges-export (45 lbs.) *        NA
 Merchandiser Bids-Single rail cars-domestic (48 lbs. or better)
   Delivered to Portland                        NA
   Delivered to inland feeding areas            NA
   FOB inland Country Elevators                 NA
 * Not fully established.
_
US 2 Yellow Corn in dollars per CWT
  Domestic-single rail cars
  Delivered full coast-BN                       NA
  Delivered to Portland                        $8.23-3/4-8.2500
  Rail and Truck del to Willamette Vly          NA
  Rail del to Yakima Valley                     NA
  Truck del to Yakima Valley                   $8.27-1/2-8.66-1/4
_
US 2 Heavy White Oats in dollars per CWT**     $9.0000
 ** Not well tested.

Exporter Bids Portland Rail/Barge     Jan 2009
  Averages in Dollars per bushel

  No. 1 Soft White                             $5.76
  No. 1 Hard Red Winter (Ordinary protein)     $5.91
  No. 1 Hard Red Winter (11.5% protein)        $6.53
  No. 1 Dark Northern Spring (14% protein)     $8.21
  No. 2 Barley                                  NA

Source:           USDA Market News Service, Portland, OR