Portland Grain Review 01/26

January 26, 2016 Portland Price Trends 01-01-15 08-01-15 12-01-15 01-19-16 01-26-16 #1 SWW (bu) 6.92 5.67 5.40 5.35 5.43 White Club 9.42 6.42 6.65 6.60 6.68 DNS 14% 8.45 6.19 6.52 6.21 6.28 HRW 11.5% 7.31 5.60 5.69 5.68 5.72 #2 Corn (ton) 192.00 160.00 159.00 161.00 163.00 #2 Barley 170.00 159.00 150.00 145.00 145.00 Wheat...West coast wheat markets ratcheted higher in early-week trade, tagging along with advances across the futures complex. Basis levels held mostly steady for both white wheat and hard red spring, while red winter pulled back from a spike higher late last week after generating a modest amount of selling. Farm selling remains limited across all three classes of wheat. Moderating weather over the past week has depleted snow cover across most growing regions of the Pacific Northwest, with the forecasts showing additional moisture expected toward the weekend. Shipments...Weekly export inspections showed US wheat loadings slipped back to under 7 mb over the past week, putting year-to-date shipments at 480 mb and 11% behind this time last year. Loadings by class were evenly distributed with soft red winter and white wheat at the top end with 1.9 mb each. Japan was the top shipper off the PNW, with Guatemala, Vietnam and the Philippines also on the list of destinations. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.