Portland Grain Review 12/01

December 1, 2015 Portland Price Trends 12-01-14 01-01-15 11-01-15 11-24-15 12-01-15 #1 SWW (bu) 7.29 6.97 5.75 5.50 5.40 White Club 9.99 9.47 7.55 6.75 6.65 DNS 14% 10.17 8.27 6.70 6.49 6.52 HRW 11.5% 7.77 7.31 6.02 5.72 5.69 #2 Corn (ton) 190.00 195.00 163.00 161.00 159.00 #2 Barley 160.00 170.00 150.00 150.00 150.00 Wheat...West coast white wheat markets drifted lower against a weaker Chicago complex, even as basis levels strengthened coming out of the long weekend. Recent Pacific Rim demand is holding basis levels firm, as soft white wheat picked up a dime over the past week and hard red spring added back a nickel today. Hard red winter held unchanged, with both red wheats bid flat through April. Shipments...Weekly export inspections showed wheat loadings came in at par with last week near 10 mb, putting year-to-date shipments 16% behind last year at 375 mb. Top shipper was hard red spring with 6.2 mb. Hard red winter and red spring were near 1.5 mb and soft white reported in at just under the million bushel mark. Crop Ratings...The last assessment for PNW winter wheat conditions for the calendar year shows the impact of a dry fall, with all ratings coming in well below recent averages. Good to excellent ratings for Washington stand at 37%, second worst of the past 5 years to last year and 30 points under the 5-year average; Idaho stands at 66%, the worst rating over the past 5 years and 20% under average; and Oregon rates 17% good-excellent, 40% under the 5-year average and the lowest of the past 5 years. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.