Portland Grain Review 05/14

May 14, 2019 Portland Price Trends 05-01-18 08-01-18 04-01-19 05-07-19 05-14-19 #1 SWW (bu) 6.05 6.05 5.95 5.80 5.90 White Club 6.05 6.05 5.95 5.80 5.90 DNS 14% 7.68 7.08 6.68 6.22 6.15 HRW 11.5% 6.93 6.89 6.14 5.74 5.78 #2 Corn (ton) 184.00 160.00 172.00 168.00 168.00 #2 Barley 155.00 140.00 140.00 140.00 140.00 Wheat...A twenty-cent recovery in Chicago futures brought some life back into west coast white wheat markets in early-week trade, and basis levels held firm. Bids showed nearby cash prices up 25 cents from lows posted last week. New crop white wheat basis has also firmed-up to put old crop and new crop spreads to within a dime. Crop Progress...USDA reports the PNW winter wheat crop is holding at an overall "average" rating relative to the past twenty years and about 5% below a year ago. Late plantings into relatively dry conditions last fall are being reflected in a good to excellent rating of 56% for Idaho, Oregon sets at 67% with 15% in poor to very poor and Washingtion is at 65% good to excellent; a full 20 points below a year ago. Shipments...Weekly export inspections showed a solid week for wheat shipments last week, coming in a nearly 31 mb to put year-to-date totals at 837 mb and slightly ahead of a year ago. Hard red spring and hard red winter both recorded 7.7 mb for the week, with soft red winter and white wheat both near the 4 mb mark. The Philippines, Indonesia and Japan were top destinations off the west coast. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.