Portland Grain Review 06/28
28 Jun 2018
June 28, 2018 Portland Price Trends 06-01-17 08-01-17 05-01-18 06-21-18 06-28-18 #1 SWW (bu) 4.90 5.20 6.05 6.10 6.00 White Club 5.05 5.30 6.05 6.10 6.00 DNS 14% 7.03 8.38 7.68 6.98 6.65 HRW 11.5% 5.10 5.65 6.93 6.22 5.87 #2 Corn (ton) 158.00 148.00 184.00 167.00 168.00 #2 Barley 127.00 125.00 158.00 155.00 150.00 Wheat...White wheat remains the shining star of west coast markets in terms of price performance, as solid demand continues to support stronger basis levels against Chicago futures. USDA reported another solid week of export demand last week and CCC completed a 4 mb donation tender this week for shipment to Yemen in early August. Weekly Sales...Lower U.S. wheat price levels continue to generate some global buying interest as USDA reported a solid week of export demand. All wheat sales came in at 20.7 mb, putting the year-to-date total at 204 mb which is 26% behind a year ago and 23% under the five-year average pace. Top seller for the week was hard red winter wheat with 7.7 mb, putting the current year total at 49 mb which is 49% behind a year ago and 42% below average. Hard red spring garnered 6.6 mb to put total sales at 68 mb; 13% behind a year ago and 11% under average. White wheat export demand remains steady with another 4.3 mb booked last week, putting year-to-date sales at 58 mb which is 12% behind a year ago but 26% ahead of average. Top Buyers...Topping the list of known buyers last week were Mexico and South Korea with more than 3 mb each, followed by the Philippines with 1.6 mb. Sales to unknown buyers registered at 7.5 mb for the week. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.