Portland Grain Review 10/01

October 1, 2015 Portland Price Trends 10-01-14 01-01-15 09-01-15 09-24-15 10-01-15 #1 SWW (bu) 6.60 6.97 5.70 5.60 5.80 White Club 9.50 9.47 6.45 7.40 7.60 DNS 14% 8.81 8.27 6.36 6.54 6.71 HRW 11.5% 7.18 7.31 5.88 6.00 6.27 #2 Corn (ton) 174.00 195.00 161.00 165.00 168.00 #2 Barley 150.00 170.00 160.00 155.00 155.00 Wheat...West coast wheat markets made some good headway this week with firm basis and stornger futures moving the hard red winter and red spring wheat markets to two-month highs. White wheat basis remains defensive but flat price levels did hit the best mark in over a month. Trading activity remains relatively light. Weekly Sales...USDA numbers continue to reflect global competitiveness as overall wheat sales came in near a marketing year low of 3 mb. Demand for the year now stands at 408 mb and 18% behind a year ago. Indonesia was top buyer for the week, booking 2.4 mb of hard red spring wheat. Production Changes...USDA took a bite out of US wheat production this week, with more than 80 mb trimmed from the August estimate. Reductions by-class showed 29 mb coming off hard red winter; hard red spring down 22 mband 30 mb off soft red winter. Lower white wheat production was also acknowledged, with winter numbers reduced 10 mb and back on par with last year's production of 184 mb. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.