Portland Grain Review 10/04

October 4, 2016 Portland Price Trends 10-01-15 01-01-16 09-01-16 09-27-16 10-04-16 #1 SWW (bu) 5.80 5.35 4.68 4.80 4.65 White Club 7.60 6.60 4.78 4.95 4.85 DNS 14% 6.71 6.17 5.96 6.24 6.42 HRW 11.5% 6.27 5.60 4.96 5.12 4.98 #2 Corn (ton) 168.00 154.00 153.00 153.00 158.00 #2 Barley 155.00 150.00 125.00 120.00 120.00 Wheat...West coast wheat markets continue to reflect activity in the respective futures markets; white wheat drifting toward the low end of the trading range with Chicago, hard red winter moving mostly sideways against KC, and hard red spring moving independently higher as buyers seek out protein wheat. Basis levels did show hard red winter picking up a nickel this week to 95 over, and club wheat also added a nickel to 20 cents over white wheat. Shipments...Weekly export inspections showed another relatively good week for shipments of U.S. wheat, reflecting a solid pace for hard red winter loadings. Overall shipments came in at 23.6 mb for the week to put year-to-date movement at 371 mb and 26% ahead of a year ago. Hard red winter tallied over half the total with 12.7 mb, but loadings for soft white also approached the 5 mb mark. Hard red spring shipped 3.6 mb for the week. Top destinations off the west coast included Japan, Vietnam and the Philippines. Also among the list of destinations were China, Indonesia and South Korea. Crop Progress..Winter wheat plantings saw another 10% to 15% of the crop put in the ground across the Pacific Northwest last week, with all three states tracking near normal pace for early October. Emergence is slightly ahead of average for Idaho, while Oregon and Washington are in line with average. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.