Portland Grain Review 11/03

November 3, 2015 Portland Price Trends 11-01-14 01-01-15 10-01-15 10-27-15 11-03-15 #1 SWW (bu) 7.02 6.97 5.80 5.72 5.75 White Club 9.97 9.47 7.60 7.52 7.55 DNS 14% 9.27 8.27 6.71 6.66 6.70 HRW 11.5% 7.62 7.31 6.27 6.03 6.02 #2 Corn (ton) 190.00 195.00 168.00 162.00 163.00 #2 Barley 150.00 170.00 155.00 150.00 150.00 Wheat...West coast wheat markets sagged at the opening of the week but gained back some ground today against a modest rebound in futures. Basis levels continue to hold firm on the protein wheats, while white wheat has bumped within a 10 cent range relative to moves in Chicago. Farm selling remains light. New crop 2016 bids are beginning to surface, with export bids generally specifying a maximum protein spec on white wheat. Shipments...Weekly export inspections showed a relatively meager week of wheat loadings last week, coming in at only 6 mb for all wheat to put the year-to-date total at 332 mb and 17% below a year ago. Red spring was top shipper with 4 mb, going to Taiwan and Japan off the west coast. Crop Progress..Beneficial moisture blanketed most of the PNW over the weekend, with cooler temps and additional rains in the forecast through this week. Winter wheat ratings out this week were not yet reflective of the improved conditions, with Washington setting at 49% good to excellent and 12% poor to very poor; Oregon at 8% good to excellent and 22% poor; and Idaho at 62% good to excellent. Montana boasts 73% good to excellent, carrying forward on a good start to the fall crop relative to neighboring states in the Pacific Northwest. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.