Portland Grain Review 03/01

March 1, 2016 Portland Price Trends 03-01-15 08-01-15 02-01-16 02-23-16 03-01-16 #1 SWW (bu) 6.77 5.67 5.32 5.05 4.90 White Club 9.27 6.42 6.57 5.55 5.00 DNS 14% 8.95 6.19 6.21 6.01 5.95 HRW 11.5% 6.75 5.60 5.60 5.41 5.34 #2 Corn (ton) 176.00 160.00 162.00 158.00 145.00 #2 Barley 170.00 159.00 145.00 145.00 153.00 Wheat...West coast wheat markets remained caught in the downdraft with futures as the week got underway, with steady basis levels putting nearby white wheat prices back into fresh multi-year low territory. Farm selling remains limited, but enough to offset what continues to be generally slow pace of demand to traditional buyers. The current slate of export demand shows Japan back in the market this week, seeking a total of 4.7 mb of US, Canadian and Australian wheat to cover a portion of their April-May needs. Winter wheat crops across the Pacific Northwest continue to benefit from persistent precipitation, which looks to move in through the week. Shipments...Weekly export inspections showed an improved pace of wheat shipments last week, coming in at 13.7 mb for a year-to-date total of 532 mb that stands 15% behind last year. Hard red winter was the top shipper for the week with 4.3 mb, followed by hard red spring with 3.8 mb. White wheat and soft red winter both came in at 2.8 mb. South Korea, Taiwan and the Philippines were the major destinations off the west coast. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.