Portland Grain Review 10/18

October 18, 2016 Portland Price Trends 10-01-15 01-01-16 09-01-16 10-11-16 10-18-16 #1 SWW (bu) 5.80 5.35 4.68 4.76 4.74 White Club 7.60 6.60 4.78 4.96 4.99 DNS 14% 6.71 6.17 5.96 6.44 6.43 HRW 11.5% 6.27 5.60 4.96 5.01 5.17 #2 Corn (ton) 168.00 154.00 153.00 152.00 150.00 #2 Barley 155.00 150.00 125.00 115.00 115.00 Wheat...Early week trade on the west coast showed white wheat markets being somewhat defensive against recent gains in Chicago futures as basis levels continued to weaken. Spot delivery was bid at 54 over the December futures today, down 20 cents from the high last week. Spot basis on hard red spring also dropped a nickel, while hard red winter held steady at 95 over KC. Exporter bid structures remain flat over the next two months. Shipments...Weekly export inspections showed U.S. wheat shipments held in-line with the prior week, coming in at 16.5 mb to put total shipments at 405 mb and 29% ahead of a year ago. Hard red winter was the big mover with 10.3 mb, loading mostly off the Gulf, while hard red spring came in with 3.6 mb and soft white 1.6 mb. Top destination off the west coast was Japan, taking a total of 3.5 mb. Crop Progress...Persistent moisture across the Pacific Northwest held winter wheat plantings mostly unchanged, with Washingtion at 89% complete, Oregon at 68% and Idaho 83% planted; all at or ahead of the average pace. Emergence has also been good, tracking on average Oregon and Washington with Idaho 20% ahead of average. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.