The State We’re In: Wheat prices rise


0111_Indicators01In August, after Russia halted wheat exports due to severe drought, cash bids jumped for wheat shipped through Portland.

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By research editor Brandon Sawyer

In August, after Russia halted wheat exports due to severe drought, cash bids jumped for wheat shipped through Portland. November bids for high-protein spring wheat averaged $10.60 a bushel, while soft white wheat reached $6.29, both rising 34% over last year’s price. The value of 2009’s harvest was $223.6 million, a 35% decrease from 2008 due to lower prices and a smaller crop. Oregon has been planting more wheat, increasing production 20% in 2010.

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All “latest” numbers are for October 2010 unless otherwise noted.Latest MonthPrevious MonthPrevious YearAnnual Change
EMPLOYMENT/BUSINESS LISTINGS
Total employment State of Oregon, thousands1,789.71,783.71,745.22.6%
Total unemployment State of Oregon, thousands196.2194.6200.9-2.3%
Unemployment rate Ore. civilian labor force, seasonally adjusted10.5%10.5%10.9%-0.4
Portland/Vancouver MSA; Employed Seven counties, thousands1,068.61,061.21,042.82.5%
Portland/Vancouver MSA; Unemployment rate, seasonally adjusted10.4%10.5%11.1%-0.7
Bend MSA; Employed Deschutes County, thousands68.769.868.60.2%
Bend MSA; Unemployment rate, seasonally adjusted15.3%15.4%15.4%-0.1
Corvallis MSA; Employed Benton County, thousands41.139.740.12.5%
Corvallis MSA; Unemployment rate, seasonally adjusted7.2%7.1%7.8%-0.6
Eugene/Springfield MSA; Employed Lane County, thousands165.2161.8159.73.4%
Eugene/Springfield MSA; Unemployment rate, seasonally adjusted11.1%11.0%12.1%-1.0
Medford/Ashland MSA; Employed Jackson County, thousands93.292.389.93.7%
Medford/Ashland MSA; Unemployment rate, seasonally adjusted13.3%13.4%13.2%0.1
Salem MSA; Employed Marion and Polk counties, thousands181.2183.1177.52.1%
Salem MSA; Unemployment rate, seasonally adjusted11.1%11.0%11.1%0.0
The Coast; Employed Five counties, thousands85.086.284.70.3%
The Coast; Unemployment rate10.5%9.8%10.1%0.4
Central Oregon; Employed Eight counties, thousands114.2116.3113.01.0%
Central Oregon; Unemployment rate12.1%11.7%12.1%0.0
Eastern Oregon; Employed Nine counties, thousands87.688.484.33.9%
Eastern Oregon; Unemployment rate8.7%8.7%8.9%-0.2
Help wanted ad count The Oregonian, Portland (November)1,0291,5071,470-30.0%
Help wanted ad count The Bulletin, Bend (November)800867897-10.8%
Oregon online job vacancies, total ads in thousands (November)57.356.444.229.6%
Portland online job vacancies, total ads in thousands (November)39.440.230.728.3%
New business corporations New filings712664766-7.0%
Limited liability companies New filings1,8311,7121,930-5.1%
Business bankruptcies New filings (November)47453630.6%
Non-business bankruptcies New filings (November)1,3731,5661,456-5.7%
TRANSPORTATION
Trucking Weight-mile tax receipts, millions$20.1$18.2$22.4-10.0%
Shipping Port of Portland, total containers load and discharge15,73518,97713,40617.4%
Shipping Port of Portland, number of calls by oceangoing vessels49494022.5%
Airline travel, PDX Passengers, thousands1,114.71,128.61,056.85.5%
Airline travel, Eugene Passengers, thousands67.369.060.711.0%
Airline travel, Medford Passengers, thousands55.255.152.06.3%
Airline travel, Redmond Passengers, thousands38.238.637.22.6%
REAL ESTATE/CONSTRUCTION PERMITS
Portland-area homes New listings3,1193,5493,443-9.4%
Willamette Valley Multiple listing sales, millions$82.4$84.2$122.8-32.9%
Central Oregon Multiple listing sales, millions$94.0$101.8$125.5-25.1%
New Oregon single-family home permits413505483-14.5%
New Oregon multiple-housing unit permits8163200-59.5%
FARMING/NATURAL RESOURCES/ENERGY
Wheat price No.1 soft white, at Portland, per bushel (November)$6.29$6.00$4.8928.6%
All farm products Farm price index (1990-1992=100%) (November)14914113510.4%
All crops Farm price index (1990-1992=100%) (November)1531421427.7%
Livestock Farm price index (1990-1992=100%) (November)13913811817.8%
Lumber price from Random Lengths Publications, framing composite (November)$275$255$24512.2%
Lumber production Coast, inland and California redwood regions, Western softwood, million board feet968966997-2.9%
Power PGE, weather-adjusted, million kilowatt-hours (November)1,562.41,469.21,513.63.2%

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