Portland Grain Review 05/31
31 May 2019
May 31, 2019 Portland Price Trends 05-01-18 08-01-18 04-01-19 05-24-19 05-31-19 #1 SWW (bu) 6.05 6.05 5.95 6.05 6.15 White Club 6.05 6.05 5.95 6.05 6.15 DNS 14% 7.68 7.08 6.68 6.38 6.40 HRW 11.5% 6.93 6.89 6.14 6.02 6.22 #2 Corn (ton) 184.00 160.00 172.00 172.00 187.00 #2 Barley 155.00 140.00 140.00 140.00 140.00 Wheat...White wheat markets saw basis levels remain defensive against stronger Chicago futures this week, but a late week announcement for new donation business bolstered bids. USDA posted a CCC donation tender for June 5 on 4.3 mb of U.S. white wheat for shipment to Yemen in July. Spot basis jumped 15 cents on the news. Basis levels on hard red winter also weakened 15 cents this week and hard red spring dropped a dime. Weekly Sales..USDA reported another relatively good week of U.S. wheat demand, coming in over 20 mb for both old and new crop positions. The top seller was hard red winter, which continues to see improved sales, coming in at 10.3 mb for the week. Hard red spring saw a combined total for old and new crop of 6.1 mb and soft white booked a total of 3.2 mb. Top buyer was Indonesia with 4.1 mb across old and new crop. Japan booked a similar amount, Yemen bought 1.6 mb and Canada committed to 1.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.