Portland Grain Review 02/04

February 4, 2016 Portland Price Trends 02-01-15 08-01-15 01-01-15 01-28-16 02-04-16 #1 SWW (bu) 6.72 5.67 5.25 5.28 5.30 White Club 9.22 6.42 6.40 6.53 6.55 DNS 14% 8.76 6.19 6.13 6.20 6.19 HRW 11.5% 6.84 5.60 5.55 5.59 5.54 #2 Corn (ton) 180.00 160.00 153.00 162.00 160.00 #2 Barley 170.00 159.00 145.00 145.00 145.00 Wheat...West coast wheat markets saw another week of prices holding in a fairly tight trading range, with limited demand matching up with a very light pace of farmer selling. Exporter bid structures showed a change in hard red wheat markets, as modest carries develop in the spring wheat and winters show a dime carry between March and April. White wheat still has a carry of about 3 cents per month into spring. Good moisture continues to stream through the Pacific Northwest, hitting mostly thawed-out soil and benefitting winter wheat profiles. Weekly Sales..White wheat was the only highlight of an otherwise dismal weekly sales report, picking up 1.4 mb in new demand coming primarily from Yemen. Year-to-date white wheat sales stand at 117 mb and down 10% from last year. Top buyers to date have been the Philippines with 27 mb; Japan with 22 mb; South Korea with 19 mb; unknown with 11 mb. Yemen rounds out the top five white wheat buyers with 9 mb compared to 7 mb a year ago. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.