Portland Grain Review 08/20

August 20, 2015 Portland Price Trends 08-01-14 01-01-15 07-01-15 08-13-15 08-13-15 #1 SWW (bu) 6.92 6.97 6.60 5.78 5.80 White Club 8.17 9.47 7.35 6.53 6.55 DNS 14% 8.31 8.27 7.63 6.28 6.28 HRW 11.5% 7.63 7.31 6.67 5.70 5.86 #2 Corn (ton) 178.00 195.00 180.00 158.00 163.00 #2 Barley 175.00 170.00 150.00 160.00 160.00 Wheat..West coast wheat markets found regained some footing this week, supported by recent Pacific Rim buying and limited farm offerings. As a result basis levels remain firm, especially for hard red winter as basis for spot delivery continues to move higher and flatten out carries; over the past week spot basis has moved 20 cents higher to 105 over, 40 cents above the July lows. Japan was in the market again this week, booking a total of 5.4 mb that included 3 mb of US wheat, 1.3 mb of Canadian wheat and 1.1 mb of Australian white wheat. Weekly Sales...USDA reported sales of 11.6 mb last week for all wheat, coming in below trade expectations and putting year-to-date sales at 340 mb and 15% behind a year ago. Sales by class showed hard red spring was top seller with 4.1 mb, placing demand for thatt class 14% behind a year ago; hard red winter tallied 3.6 mb and stands 22% under last year while soft white booked 1.9 mb mostly to Yemen. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.