Portland Grain Review 10/06

October 6, 2016 Portland Price Trends 10-01-15 01-01-16 09-01-16 09-29-16 10-06-16 #1 SWW (bu) 5.80 5.35 4.68 4.72 4.65 White Club 7.60 6.60 4.78 4.87 4.85 DNS 14% 6.71 6.17 5.96 6.30 6.45 HRW 11.5% 6.27 5.60 4.96 5.07 5.00 #2 Corn (ton) 168.00 154.00 153.00 152.00 154.00 #2 Barley 155.00 150.00 125.00 120.00 120.00 Wheat...West coast wheat markets saw both white and hard red winter hold to a fairly narrow range, while hard red spring remained on a more independent path. Trade activity remains generally light, with exporter bid structures showing prices being posted mostly flat over the next 90- day window, working to attract spot deliveries. Weekly Sales...USDA reported weekly sales took a step back from what had been an improved pace over the past couple of weeks. Overall demand near the 14 mb mark last week came in 30% under the four-week average, putting year-to-date sales at 530 mb; 27% ahead of last year and 1% off the five-year average. Hard red spring was top seller with 5.4 mb and stands 20% ahead of last year and 17% ahead of average. Hard red winter registered 3.5 mb for the week and with 223 mb in commitments stands at nearly double last year's sales and 19% ahead of average. White wheat booked 2.7 mb for the week to put current year sales at 89 mb which is 20% ahead of a year ago and 3% above average. Top Buyers...The Philippines was top buyer of U.S. wheat last week with 3.8 mb, followed closely by Japan with 3.6 mb. Thailand recorded 2.7 mb and Brazil bought 2.3 mb of hard red winter. Canada rounded-out the top five for the week with a 1.8 mb purchase of hard red spring; a signal of recent interest in securing protein from the U.S. crop. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.