Portland Grain Review 12/17
17 Dec 2015
December 17, 2015 Portland Price Trends 12-01-14 01-01-15 11-01-15 12-10-15 12-17-15 #1 SWW (bu) 7.29 6.97 5.75 5.60 5.44 White Club 9.99 9.47 7.55 7.10 6.94 DNS 14% 10.17 8.27 6.70 6.55 6.43 HRW 11.5% 7.77 7.31 6.02 5.85 5.70 #2 Corn (ton) 190.00 195.00 163.00 163.00 161.00 #2 Barley 160.00 170.00 150.00 150.00 150.00 Wheat...West coast wheat markets recovered from early weakness today, following a rebound across the futures complex. A slowed pace of demand remains apparent, however, as exporter bids throughout the week showed a somewhat defensive posture against advances on the board. Bid structures remain mostly flat for the red wheat markets, while soft white white has carries of 3 cents per month posted into April. Bids for August 2016 had white wheat max 10.5% protein at $5.70 today; hard red winter 11.5% bid at $5.66 and dark northern spring 14% protein at $5.62. Weekly Sales...USDA reported weekly sales coming in right at levels needed to meet projections with 11.8 mb for the week, which puts current year demand at 552 mb and 16% behind last year. Hard red spring was the top seller at 4.3 mb, followed by hard red winter with 4.1 mb and both soft red winter and white near the 1.4 mb mark. Japan was in the market this week, covering a total of 4.5 mb from both the US and Canada. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.