Portland Grain Review 09/13

September 13, 2016 Portland Price Trends 09-01-15 01-01-16 08-01-16 09-06-16 09-13-16 #1 SWW (bu) 5.70 5.35 4.95 4.72 4.78 White Club 6.45 6.60 5.05 4.82 4.93 DNS 14% 6.36 6.17 6.03 5.96 6.08 HRW 11.5% 5.88 5.60 5.10 5.00 5.06 #2 Corn (ton) 161.00 154.00 158.00 155.00 151.00 #2 Barley 160.00 150.00 135.00 125.00 125.00 Wheat...West coast wheat markets opened the week holding most of the gains from last week, with the overall level of trade remaining light. Limited farm selling and recent western white wheat demand had exporters propping-up club wheat premiums, which gained a nickel and stand at 15 cents over white wheat. Carry structures show exporter bids flattening out, signaling interest in nearby ownership as both hard red winter and springs are being posted flat into December. Spot basis levels are also holding steady with hard red spring up a nickel from last week. Shipments...Weekly export inspections showed a solid week of activity for U.S. wheat loadings, coming in at 26 mb to put the year-to-date total at 293 mb and 28% ahead of a year ago. Hard red winter was the big mover for the week, registering more than 10 mb loading mostly out of the Gulf. Hard red spring also had a big week with 8.2 mb off all ports, while soft white loadings came in near the 4 mb mark; one of the biggest weeks this year. Top destination off the west coast was the Philippines, with South Korea, Taiwan and Japan also on the docket for the week. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.