Portland Grain Review 06/05

June 5, 2018 Portland Price Trends 06-01-17 08-01-17 05-01-18 05-29-18 06-05-18 #1 SWW (bu) 4.90 5.20 6.05 6.05 6.05 White Club 5.05 5.30 6.05 6.05 6.05 DNS 14% 7.03 8.38 7.68 7.73 7.44 HRW 11.5% 5.10 5.65 6.93 6.86 6.59 #2 Corn (ton) 158.00 148.00 184.00 178.00 175.00 #2 Barley 127.00 125.00 158.00 155.00 155.00 Wheat...West coast white wheat markets maintained composure despite a roller-coaster performance in Chicago, as spot basis levels strengthened to hold flat prices at or above the $6 mark in early-week trade. Export interest is apparent, with markets being inverted from June into July. Crop Progress...Weather remains beneficial to winter wheat conditions acros the Pacific Northwest, as the three-state weighted index improved once again this week to the best crop rating for the first week of June in twenty years. Ratings for Idaho, Oregon and Washington stand at 109% of the 20-year average, with Washington being the primary catalyst on a 5 point jump to 89% in the good to excellent category. Idaho stands at 74% while Oregon is at 67% with 12% ranked poor to very poor. Shipments...Weekly export inspections showed a reasonable late-season movement of wheat off U.S. ports, coming in at 12.5 mb to put current year shipments at 876 mb and 13% behind a year ago. Top shipper for the week was hard red witner with 5.2 mb, followed by hard red spring with 3.2 mb and soft white with 2.1 mb. Top destinations off the west coast included Indonesia with 2.4 mb, Bangladesh with 1.7 mb and Japan with 1.2 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.