Portland Grain Review 02/

February 19, 2016 Portland Price Trends 02-01-15 08-01-15 01-01-15 02-12-16 02-19-16 #1 SWW (bu) 6.72 5.67 5.25 5.16 5.18 White Club 9.22 6.42 6.40 5.66 5.68 DNS 14% 8.76 6.19 6.13 6.08 6.13 HRW 11.5% 6.84 5.60 5.55 5.39 5.52 #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 finished modestly higher from a week ago, with mostly steady basis levels reflective of gains across futures; especially in Kanas City where hot and dry conditions triggered a round of short covering. Overall weak demand for US wheat and limited farmer selling continues to hold prices in a fairly tight trading range. Japan was in the market this week, covering more than 5 mb of their April and May requirements, which included 3 mb of US wheat. The Pacific Northwest wheat growing regions received additional moisture through the week and another Pacific front is moving in through the weekend. Weekly Sales...USDA reported total wheat sales of 9.3 mb for the past week, coming in right at the pace needed to meet revised USDA projections. Overall sales stand 18% behind last year at 635 mb. Hard red winter was top seller with 4.3 mb, followed by hard red spring with 2.4 mb and soft white at 1.2 mb. Yemen was top white wheat buyer, rounding out the top four buyers for the week that included Japan, the Philippines and Israel. Indonesia, a traditional white wheat buyer, continues to buy more hard red spring wheat at the country develops toward non-traditional foods. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.