Portland Grain Review 09/03

September 3, 2015 Portland Price Trends 09-01-14 01-01-15 08-01-15 08-27-15 09-03-15 #1 SWW (bu) 7.10 6.97 5.70 5.65 5.46 White Club 9.35 9.47 6.45 6.40 6.96 DNS 14% 7.68 8.27 5.64 6.14 6.20 HRW 11.5% 8.80 7.31 6.22 5.84 5.68 #2 Corn (ton) 178.00 195.00 159.00 162.00 158.00 #2 Barley 165.00 170.00 160.00 160.00 160.00 Wheat..West coast wheat markets fell prey to further erosion in wheat futures this week, as new contract lows across the exchanges pulled bids to new lows. Even with above average basis levels, both soft white wheat and hard red winter closed at price levels not seen since the summer of 2010, with dark northern spring hovering near 2009 lows. Trading remains limited, highlighted by continued steepening of premiums on low protein soft white and club wheat. Club wheat guaranteed to meet a maximium of 10.5% protein was bid at a $1.50 premium to ordinary white wheat today. Weekly Sales...USDA revealed a lethargic week of demand for US wheat, coming in at a mrekting year low of 10 mb to put year-to-date sales 12% behind a year ago at 370 mb. Soft red winter was top seller with 4 mb, going mostly to Mexico; hard red spring booked 3.5 mb to the traditional Pacific Rim markets, standing 12% behind a year ago; and white wheat saw only 200,000 bushels in sales to set 6% behind last year with 63 mb. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.