Portland Grain Review 01/14

January 14, 2016 Portland Price Trends 01-01-15 08-01-15 12-01-15 01-07-16 01-14-16 #1 SWW (bu) 6.92 5.67 5.40 5.33 5. White Club 9.42 6.42 6.65 6.48 6. DNS 14% 8.45 6.19 6.52 6.13 6. HRW 11.5% 7.31 5.60 5.69 5.58 5. #2 Corn (ton) 192.00 160.00 159.00 153.00 1.00 #2 Barley 170.00 159.00 150.00 145.00 1.00 Wheat...West coast wheat markets settled back from higher numbers that were posted last week, with prices tailing lower with the decline across the futures complex. Basis levels held firm on hard red winter and hard red spring wheat, while soft white basis to Chicago moved modestly higher against the decline in futures. Trading was termed light as farm selling remains limited at current price levels. Weekly Sales...USDA reported an improved week of demand for US wheat, but numbers came in short of what is needed to reach current projections. Sales of 10.1 mb last week for all wheat put the year-to-date total 15% behind a year ago at 591 mb. Top seller was hard red spring wheat with 3.8 mb, followed by soft white with 2.4 mb. Top buyer for the week was the Phillipines, accounting for over half the weekly total. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.