Portland Grain Review 01/29

January 29, 2016 Portland Price Trends 01-01-15 08-01-15 12-01-15 01-22-16 01-29-16 #1 SWW (bu) 6.92 5.67 5.40 5.36 5.35 White Club 9.42 6.42 6.65 6.61 6.60 DNS 14% 8.45 6.19 6.52 6.17 6.25 HRW 11.5% 7.31 5.60 5.69 5.81 5.67 #2 Corn (ton) 192.00 160.00 159.00 162.00 145.00 #2 Barley 170.00 159.00 150.00 145.00 165.00 Wheat...West coast wheat markets finished the week on a positive note, riding along with the late-session updraft in the futures complex today. General trade activity remains limited, with basis levels holding firm on both red spring and hard red winter markets while white wheat is somewhat defensive against gains in Chicago. Winter wheat growing regions of the Pacific Northwest continue to receive beneficial moisture. Weekly Sales...USDA reported US wheat demand near the 11 mb mark last week, in-line with the pace needed to meet USDA projections and placing current year sales at 614 mb and 16% behind a year ago. Hard red spring was top seller with 5 mb, followed by hard red winter with 4 mb. White wheat sales held above the 2 mb mark for the week. Top buyer was Japan, accounting for half the weekly total, followed by Indonesia purchasing primarly hard red spring wheat. South Korea, Mexico and Nigeria rounded out the top five buyers for the week. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.