Portland Grain Review 03/24

March 24, 2016 Portland Price Trends 03-01-15 08-01-15 02-01-16 03-17-16 03-24-16 #1 SWW (bu) 6.77 5.67 5.32 4.99 5.03 White Club 9.27 6.42 6.57 5.19 5.23 DNS 14% 8.95 6.19 6.21 6.05 6.09 HRW 11.5% 6.75 5.60 5.60 5.46 5.47 #2 Corn (ton) 176.00 160.00 162.00 158.00 159.00 #2 Barley 170.00 159.00 145.00 145.00 145.00 Wheat...West coast wheat markets registered modest gains this week as steady basis levels helped reflect a slightly higher week-to-week close across the futures complex. Trade activity remains relatively slow with prices holding above early March lows. Japan was in the market this week, securing a total of 4.7 mb for their May-June requirement; which included 1.2 mb of US wheat, 1 mb of Canadian spring wheat and 2.4 mb of standard white wheat from Australia. Pacific Northwest wheat growing regions saw another healthy front of moisture move through this week. Weekly Sales...USDA reported an improved week of demand for US wheat, coming in at 13.6 mb and 16% above the four-week average. Year-to-date sales stand 17% behind last year at 696 mb. Hard red spring registered as top seller with 6 mb, while soft white posted relatively good numbers for the second straight week with 5 mb; standing only 5% behind a year ago with 134 mb in the books. Top buyer was the Philippines with 3.9 mb, mostly hard red spring and soft white, followed by 2.1 mb for Thailand. Yemen and Indonesia were also notable buyers on the white wheat docket, accounting for over half that weekly total. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.