Portland Grain Review 03/29

March 29, 2016 Portland Price Trends 03-01-15 08-01-15 02-01-16 03-22-16 03-29-16 #1 SWW (bu) 6.77 5.67 5.32 5.04 5.15 White Club 9.27 6.42 6.57 5.24 5.35 DNS 14% 8.95 6.19 6.21 6.10 6.17 HRW 11.5% 6.75 5.60 5.60 5.52 5.57 #2 Corn (ton) 176.00 160.00 162.00 159.00 160.00 #2 Barley 170.00 159.00 145.00 145.00 145.00 Wheat...West coast wheat markets stair-stepped higher coming out of the extended weekend, tagging along with gains being posted across the futures complex. White wheat basis remained notably defensive against strength in Chicago futures, weakening about a nickel today to 37 over May futures and dark northern spring 14% held at 95 over Minneapolis with hard red winter 11.5% maintaining 75 over Kansas City. Recent abundant moisture is being countered with some marginal emergence for an initial assessment of winter wheat conditions for next week, with warmer temps into the weekend adding to crop development potential. Shipments...Weekly export inspections showed US wheat shipments lagged the pace needed to meet USDA projections, coming in at 12 mb for the week to put loadings at 605 mb and 12% behind a year ago. Top shipper for the week was hard red spring with 6.5 mb, followed by hard red winter with a total of 3.5 mb. Soft white shipped 1.1 mb. Top destinations off the PNW for wheat were Japan, Guatemala, Taiwan and South Korea. China and Japan were also big takers of corn off the west coast last week. -Norm Ruhoff Contributing Analyst Copyright 2016 DTN/Telvent. All Rights Reserved.