Portland Grain Review 09/01

September 1, 2015 Portland Price Trends 09-01-14 01-01-15 08-01-15 08-25-15 09-01-15 #1 SWW (bu) 7.10 6.97 5.70 5.70 5.65 White Club 9.35 9.47 6.45 6.45 6.40 DNS 14% 7.68 8.27 5.64 6.16 6.31 HRW 11.5% 8.80 7.31 6.22 5.72 5.82 #2 Corn (ton) 178.00 195.00 159.00 158.00 160.00 #2 Barley 165.00 170.00 160.00 160.00 160.00 Wheat...Generally quiet trade prevailed across west coast wheat markets in early-week trade, with firm basis levesl holding bids within relatively tight trading ranges. White wheat basis for "ordinary" proteins showed a basis near 80 over Chicago December; hard red winter 11.5% was posting at 100 over Kansas City December and dark northern spring 14% showed nearby bids at 120 over Minneapolis December. Bid structures show both hard red winter and dark northern spring flat into December, while soft white is posting carries of 3 cents per month into January. Shipments...Weekly export inspections revealed the best week of wheat loadings for the marketing year with 22 mb, which puts total shipments at 185 mb and 23% behind a year ago. Top shipper was hard red winter with 7 mb, followed by hard red spring with 6 mb and soft white at 4.4 mb. Big takers off the west coast were Japan, the Philippines and Indonesia. Crop Progress...USDA reports cereal grain harvest across the northwest is nearing completion heading toward the Labor Day weekend, with Idaho at 92% complete and Montana at 85%. Conditions remain extremely dry. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.