Portland Grain Review 11/13

November 13, 2015 Portland Price Trends 11-01-14 01-01-15 10-01-15 11-06-15 11-13-15 #1 SWW (bu) 7.02 6.97 5.80 5.83 5.52 White Club 9.97 9.47 7.60 7.63 6.77 DNS 14% 9.27 8.27 6.71 6.05 6.46 HRW 11.5% 7.62 7.31 6.27 6.68 5.76 #2 Corn (ton) 190.00 195.00 168.00 150.00 150.00 #2 Barley 150.00 170.00 155.00 163.00 157.00 Wheat...West coast wheat markets went adrift with the futures complex this week, as weaker demand projections and burdensome stocks weighed on prices. Basis levels were also a bit more defensive, as white wheat saw spreads weaken about a nickel through the week and settling at 57 cents over Chicago; hard red winter dropped a dime for the week to 105 over KC and dark northern spring also slipped 10 cents to 140 over Minneapolis. Most notable over the past week has been a sharp decline in premiums on low protein club wheat; slipping 55 cents to 125 over soft white for a maximum 10.5% protein delivery. Pacific Northwest weather patterns are improving winter wheat conditions, as heavy persistent moisture streams across most the of the growing areas. Weekly Sales...USDA confirmed another week of meager demand for wheat, coming in below the pace needed to meet revised projections at only 8 mb. Year-to-date sales now stand at 480 mb and 17% behind a year ago, which compares to current USDA projections for a 7% decline this year. The top seller last week was hard red winter with 3.5 mb, followed by soft white with nearly 3 mb that went mostly to the Philippines. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.