Portland Grain Review 04/07

April 7, 2016 Portland Price Trends 04-01-15 08-01-15 03-01-16 03-31-16 04-07-16 #1 SWW (bu) 6.87 5.67 4.90 5.11 5.02 White Club 9.37 6.42 5.10 5.31 5.22 DNS 14% 9.12 6.19 5.95 6.24 6.08 HRW 11.5% 7.04 5.60 5.34 5.51 5.29 #2 Corn (ton) 171.00 160.00 153.00 152.00 158.00 #2 Barley 160.00 159.00 145.00 140.00 140.00 Wheat..West coast wheat markets drifted lower this week against weaker futures, with a stronger white wheat basis helping to offset a portion of the declines in Chicago. Overall trading activity remained quiet. Warm weather across most of the winter wheat regions of the Pacific Northwest are being welcomed after recent moisture, and will advance spring field work in many areas. Crop Ratings..The first assessment of winter wheat conditions for the Pacific Northwest reflects the impact of a moisture-laden late winter and early spring, with the three-state index standing nearly 60 points above a year ago at 390 points; 104% of the 20-year average and the best start since 2011. State-by-state good to excellent ratings show both Idaho and Oregon 22% above a year ago at a respective 94% and 66%, with Washingtion up over 60% from early April last year at 87%. Shipments...Weekly export inspections showed a big week for shipments of US corn, coming in near the top end of the weekly range for the year, while total wheat shipments declined for the second straight week. Total export loadings for the week of 11.7 mb placed the year-to-date tally at 617 mb and 12% behind a year ago. Hard red winter was top shipper with 5.4 mb on the week, followed by hard red spring with 2.4 mb. White wheat registered 1.5 mb. Top destinations shipping off the west coast showed Indonesia, China, and Taiwan accounting for the majority of loadings. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.