Portland Grain Review 08/30

August 30, 2016 Portland Price Trends 08-01-15 01-01-16 07-01-16 08-23-16 08-23-16 #1 SWW (bu) 5.70 5.35 5.05 4.95 4.65 White Club 6.45 6.60 5.05 5.05 4.75 DNS 14% 6.22 6.17 6.00 6.26 5.96 HRW 11.5% 5.64 5.60 4.82 5.23 4.87 #2 Corn (ton) 160.00 154.00 163.00 159.00 153.00 #2 Barley 159.00 150.00 140.00 130.00 125.00 Wheat...A move to ten-year lows across Chicago wheat futures pressured west coast white wheat prices lower in early-week trade, closing today at $4.70 and the lowest since June 2010. Carries remain relatively flat for the next 90 days across the wheat complex, and the recent retreat in hard red winter price levels has triggered LDP payments in many areas. Shipments...Weekly export inspections showed total U.S. wheat shipments held in-line with a week ago, coming in near the 19 mb mark to put current year loadings 26% ahead of last year at 238 mb. Top shipper for the week was hard red spring with 7.6 mb, followed closely by hard red winter with 7.6 mb. Soft white loaded 2.3 mb off the PNW. Big taker for the week was the Philippines with 5.1 mb. Guatemala, China and Thailand were the other notable destinations. Crop Progress...With winter wheat harvest virtually, Pacific Northwest harvest progress has shifted to completion of the spring cereal and pulse crop harvest. Overall progress is hovering slightly ahead of the average pace, with some push being noted ahead of a weather front moving in over this coming weekend. Up-country storage remains tight against good yields and slow farmer selling at current -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.