Portland Grain Review 11/10

November 10 2015 Portland Price Trends 11-01-14 01-01-15 10-01-15 11-03-15 11-10-15 #1 SWW (bu) 7.02 6.97 5.80 5.75 5.50 White Club 9.97 9.47 7.60 7.55 6.75 DNS 14% 9.27 8.27 6.71 6.70 6.47 HRW 11.5% 7.62 7.31 6.27 6.02 5.71 #2 Corn (ton) 190.00 195.00 168.00 163.00 156.00 #2 Barley 150.00 170.00 155.00 150.00 150.00 Wheat...It was a tough start to the week for west coast wheat prices as initial setbacks across the futures complex were followed by another round of selling off the USDA numbers today. As a result, white wheat bids moved back toward marketing year lows, with hard red winter about 25 cents above that mark and hard red spring about 40 cents above the August lows. Shipments...Weekly export inspections showed US wheat movement remains slow, coming in at only 10 mb in total wheat shipments off all ports. Hard red winter accounted for half the total; soft white moved only 500,000 bu. Crop Report...USDA acknowledged the meager pace of US wheat sales this year, ratcheting projected exports down another 50 mb to a decades-low mark of 800 mb. By class reductions included 25 mb off the estimate for hard red winter, putting stocks-to-use ration for that class at 60%. Hard red spring exports were also trimmed 20 mb and soft red winter was reduced 5 mb. White wheat numbers were left unchanged, holding estimated carryout at the lowest level since the 2007/08 marketing year. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.