Portland Grain Review 03/08

March 8, 2016 Portland Price Trends 03-01-15 08-01-15 02-01-16 03-01-16 03-08-16 #1 SWW (bu) 6.77 5.67 5.32 4.90 5.02 White Club 9.27 6.42 6.57 5.00 5.32 DNS 14% 8.95 6.19 6.21 5.95 6.09 HRW 11.5% 6.75 5.60 5.60 5.34 5.51 #2 Corn (ton) 176.00 160.00 162.00 153.00 154.00 #2 Barley 170.00 159.00 145.00 145.00 145.00 Wheat...West coast wheat markets made some headway early in the week on gains in the futures complex, but defensive basis levels were apparent and muted a share of the gains. White wheat basis for ordinary protein dipped a nickel at one point to 37 over Chicago, Kansas City hard red winter was also down a nickel at 80 over, and 14% protein dark northern spring broke 5 cents to 105 over Minneapolis; all trading below 10-year averages. Shipments...Weekly export inspections for US wheat improved the second straight week, reaching the best weekly tally in nearly 3 months at 16 mb to put year-to-date shipments at 560 mb and 12% behind last year. Hard red winter was top shipper at 4.8 mb, followed by hard red spring with 4.6 mb, and white wheat 4.2 mb. The Philippines and Japan were top destinations off the west coast, but the export slate also included vessels loading for Taiwan, Guatemala, and South Korea. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.