Portland Grain Review 02/16

February 16, 2016 Portland Price Trends 02-01-15 08-01-15 01-01-15 02-09-16 02-16-16 #1 SWW (bu) 6.72 5.67 5.25 5.17 5.20 White Club 9.22 6.42 6.40 6.42 5.70 DNS 14% 8.76 6.19 6.13 6.07 6.11 HRW 11.5% 6.84 5.60 5.55 5.40 5.46 #2 Corn (ton) 180.00 160.00 153.00 158.00 159.00 #2 Barley 170.00 159.00 145.00 145.00 145.00 Wheat...West coast wheat markets continue to be a reflection of trade across the futures complex; holding near seasonal lows and adhering to a relatively tight trading range. Basis levels have been holding steady on all the wheats, with ordinary white wheat basis being the most defensive against gains in Chicago. Exporters also posted a sharp reduction on the premiums for maximum 10.5% club wheat deliveries over the past week; now generally bid at 50 cents over soft white, which is about half of recent postings and down nearly $1.50 from premiums being paid last harvest. Shipments...Weekly export inspections showed total wheat shipments at 14 mb last week, putting year-to-date shipments for all wheat at 520 mb and 11% behind a year ago. Top shipper for the week was hard red winter with 6.7 mb, followed by hard red spring with 2.9 mb. Soft white tallied 2.5 mb for the week, going mostly to the Philippines and Yemen. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.