Portland Grain Review 06/16
16 Jun 2016
June 16, 2016 Portland Price Trends 06-01-15 08-01-15 05-01-16 06-09-16 06-16-16 #1 SWW (bu) 6.03 5.67 5.33 5.60 5.35 White Club 7.53 6.42 5.53 5.60 5.35 DNS 14% 7.35 6.19 7.35 6.54 6.34 HRW 11.5% 6.31 5.60 6.31 5.69 5.38 #2 Corn (ton) 158.00 160.00 158.00 183.00 183.00 #2 Barley 150.00 159.00 150.00 140.00 140.00 Wheat...West coast wheat markets generally slipped back against a weaker futures complex this week, drifting about 20 cents lower. Export bids show a relatively flat market into new crop positions for all wheats, with carry of 20 cents between August and December delivery. Cooler weather is being seen moving across the Pacific Northwest with scattered precipitation into the weekend before warmer temperatures and dry conditions move in next week. Weekly Sales...USDA revealed one of the best weekly totals for U.S. wheat sales in nearly a year, coming in at 28 mb to put current year sales at 240 mb; 29% ahead of last year and 2% behind the five-year average. Top seller was hard red winter with 12.21 mb, putting sales at 81 mb and 44% ahead of a year ago and 2% above the five-year average. Hard red spring also recorded a solid week of sales at 8.1 mb, putting that class 60% ahead of a year ago and 22% ahead of average. Soft white posted 3.8 mb for the week, which puts current year demand at 43 mb; 30% ahead of last year and 6% above average. Top buyer was unknown with 4.6 mb, followed by Mexico with 3.3 mb and South Korea with 2.7 mb. Japan, Thailand and Columbia were also notable buyers. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.