Portland Grain Review 08/18

August 18, 2015 Portland Price Trends 08-01-14 01-01-15 07-01-15 08-11-15 08-11-15 #1 SWW (bu) 6.92 6.97 6.60 5.80 5.70 White Club 8.17 9.47 7.35 6.55 6.45 HRS 14% 8.31 8.27 7.63 6.29 6.13 HRW 11.5% 7.63 7.31 6.67 5.63 5.71 #2 Corn (ton) 178.00 195.00 180.00 159.00 159.00 #2 Barley 175.00 170.00 150.00 159.00 160.00 Wheat...West coast wheat markets saw basis levels holding firm as the week got underway, especially for hard red winter where spreads over the Kansas City September futures climbed to 95 over; up 20 cents from last week and 30 cents above recent lows. Farm offerings remain limited and exporters are pushing the spread for coverage on recent sales. Weather remains warm and dry across the Pacific Northwest. Shipments...USDA weekly export inspections revealed the best movement of wheat for the marketing year, registering over 20 mb in loadings off all ports. Soft white shipped an impressive 6.8 mb, going mostly to Sri Lanka, Taiwan, and Yemen. Hard red winter and red spring also reported in with over 5 mb each. Crop Progress...USDA reported cereal grain harvest nearing completion for Oregon and Washington, while Idaho stands just over the halfway mark on spring wheat and barley. Persistent warm and dry conditions took a toll on spring wheat yields across the region, cutting into test weights and boosting protein levels. Producers now shift focus to fall planting conditions with USDA showing moisture profiles above two-thirds short to very short for Oregon and Washington, and Idaho at about 50% adequate. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.