Portland Grain Review 09/06

September 6, 2016 Portland Price Trends 09-01-15 01-01-16 08-01-16 08-30-16 09-06-16 #1 SWW (bu) 5.70 5.35 4.95 4.65 4.72 White Club 6.45 6.60 5.05 4.75 4.82 DNS 14% 6.36 6.17 6.03 5.96 5.96 HRW 11.5% 5.88 5.60 5.10 4.87 5.00 #2 Corn (ton) 161.00 154.00 158.00 153.00 155.00 #2 Barley 160.00 150.00 135.00 125.00 125.00 Wheat...West coast wheat markets were nursing modest gains from late last week coming out of the extended weekend. Hard red winter showed the best week to week gains against a firm basis and higher KC futures. Hard red spring wheat saw basis levels pull back a nickel, while white wheat was holding in the mid-70 cent over range against Chicago. Export bids show white wheat posting a carry into January, hard red winter is posted flat into December, and hard red spring has an 11 cents carry to January. Shipments...Weekly export inspections showed a solid week of loading activity for U.S. wheat, coming in at 23.5 mb to put the current year at 266 mb and 30% ahead of a year ago. Hard red winter was the top shipper with 10.4 mb, followed by hard red spring with 5.5 mb. Soft white also had an improved week with 3.4 mb. Top destination for the week was China, taking a total of 4.4 mb of red spring wheat off the west coast. Notable destinations beyond that included the Philippines, Thailand and Yemen. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.