Portland Grain Review 07/24

July 24, 2018 Portland Price Trends 07-01-17 08-01-17 06-01-18 07-17-18 07-24-18 #1 SWW (bu) 5.55 5.20 6.05 5.95 5.95 White Club 5.65 5.30 6.05 5.95 5.95 DNS 14% 9.31 8.38 7.49 6.38 6.63 HRW 11.5% 6.34 5.65 6.71 6.14 6.40 #2 Corn (ton) 157.00 148.00 178.00 156.00 157.00 #2 Barley 127.00 125.00 155.00 150.00 150.00 Wheat...White wheat markets continue to tow the line near the $6 mark, with basis levels offsetting declines in Chicago. Recent donation business has been supportive to the market as the sales were marked for delivery in nearby positions. Seasonably warm and dry conditions are helping advance winter wheat harvest. Crop Progress...Winter wheat harvest continues to advance at an average pace across the Pacific Northwest. Oregon is reported at nearly one-third complete, Idaho at 12% and Washington slightly behind average at 16% cut; all reporting generally good quality and yields. Spring wheat ratings also remain above average with the Washington crop rated 79% good-excellent and Idaho at 78%. Shipments..Weekly export inspections showed a modest decline in overall wheat shipments off US ports last week, coming in at 14.5 mb to put totals for the year at 96 mb which is 41% behind a year ago. Top shippers for the week were hard red winter and soft white with 3.6 mb each. Hard red spring was at 3.4 mb and soft red winter registered 3 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.