Portland Grain Review 12/10

December 10, 2015 Portland Price Trends 12-01-14 01-01-15 11-01-15 12-03-15 12-10-15 #1 SWW (bu) 7.29 6.97 5.75 5.45 5.60 White Club 9.99 9.47 7.55 6.70 7.10 DNS 14% 10.17 8.27 6.70 6.57 6.55 HRW 11.5% 7.77 7.31 6.02 5.76 5.85 #2 Corn (ton) 190.00 195.00 163.00 159.00 163.00 #2 Barley 160.00 170.00 150.00 150.00 150.00 Wheat....West coast wheat markets generally rode the crest of improved futures markets this week, with white wheat advancing nearly 30 cents off the lows from last week. Basis levels on the protein wheats were notably defensive against advancing futures today, with hard red winter and dark northern spring paring back a nickel. Pacific Northwest wheat regions saw continued heavy precipitation this week; being received across unfrozen ground and benefitting moisture profiles. Weekly Sales...USDA revealed disappointing export demand for US wheat over the past week, coming in below trade expecations at 8.3 mb to place year-to-date sales 15% behind last year at 540 mb. Top sellers were hard and soft red winter, accounting for over half the weekly total with 2.7 mb each. Hard red spring booked 2 mb, and soft white slipped below the 1 mb mark. Top buyers for the week were Japan and Nigeria, both near the 2.5 mb level, with Taiwan, Ecudaor and Mexico rounding out the top five for the week. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.