Portland Grain Review 12/19

December 19, 2017 Portland Price Trends 12-01-16 01-01-17 11-01-17 12-12-17 12-19-17 #1 SWW (bu) 4.55 4.50 5.23 5.14 5.26 White Club 4.70 4.65 5.28 5.19 5.31 DNS 14% 6.53 6.57 7.49 7.35 7.48 HRW 11.5% 4.88 4.99 5.60 5.46 5.56 #2 Corn (ton) 148.00 160.00 145.00 152.00 153.00 #2 Barley 115.00 115.00 125.00 125.00 128.00 Wheat...Firming basis levels helped move white wheat markets higher as the week got underway, as recent demand has exporters pushing the nearby market for movement. Spot basis levesl on white wheat remain strong and at 105 over Chicago, stand more than double the ten-year average level for mid-December. Basis levels on protein wheats held mostly steady. Recent snow levels across the Pacific Northwest have given way to warmer and wet weather, removing cover ahead of an expected cold front this weekend. Shipments...Weekly export inspections showed a marked rebound in wheat shipments off U.S. ports last week, coming in at 21.5 mb to put the total year-to-date loadings at 503 mb and 6% behind a year ago. Top shipper was hard red winter with 9.5 mb, followed by hard red spring and white wheat with 5.5 mb each. Top destination off the west coast was Indonesia with 4.2 mb. Iraq took onn 1.9 mb, Guatemala 1.8 mb and Thailand 1.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.