Portland Grain Review 06/09
9 Jun 2016
June 9, 2016 Portland Price Trends 06-01-15 08-01-15 05-01-16 06-02-16 06-09-16 #1 SWW (bu) 6.03 5.67 5.33 5.45 5.60 White Club 7.53 6.42 5.53 5.45 5.60 DNS 14% 7.35 6.19 7.35 6.32 6.54 HRW 11.5% 6.31 5.60 6.31 5.49 5.69 #2 Corn (ton) 158.00 160.00 158.00 178.00 183.00 #2 Barley 150.00 159.00 150.00 145.00 140.00 Wheat...West coast wheat markets gave back a portion of recent gains today, especially white and hard red winter wheat prices which followed declines in Chicago and KC futures. White wheat prices retracted after reaching seven-month highs this week; attracting a notable amount of new crop farmer selling. Posted carries of 20 cents between August delivery and January 2017 put white wheat bids within a dime of the $6 mark for delivery into the next calendar year. Pacific Northwest wheat production zones saw moderating temperatures accompanied by good moisture following a week of record temperatures persisting through most of the region. Weekly Sales..The beginning of the new marketing year shows U.S. wheat sales starting off ahead of last year. A better than average pace of new crop commitments has sales at 212 mb; 22% ahead of last year and 7% off the five-year average for the first week of June. Hard red winter took top seller honors last week and stands 32% ahead of last year, with 69 mb in sales. Hard red spring booked 3 mb last week, adding to a strong pace of new crop selling with 75 mb in commitments; 56% ahead of a year ago and 18% ahead of the five-year average. Soft white demand stands at 39 mb which is 32% ahead of last year and 4% above the five-year average. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.