Portland Grain Review 10/25

October 25, 2016 Portland Price Trends 10-01-15 01-01-16 09-01-16 10-18-16 10-25-16 #1 SWW (bu) 5.80 5.35 4.68 4.74 4.75 White Club 7.60 6.60 4.78 4.99 5.05 DNS 14% 6.71 6.17 5.96 6.43 6.39 HRW 11.5% 6.27 5.60 4.96 5.17 5.03 #2 Corn (ton) 168.00 154.00 153.00 150.00 146.00 #2 Barley 155.00 150.00 125.00 115.00 115.00 Wheat...West coast wheat markets continue to hold within a very tight trading range, with a modest improvement in white wheat basis to Chicago holding that market mostly steady. Club wheat premiums were also a nickel higher from last week. Hard red winter basis weakened a nickel early week while hard red spring basis held steady. Overall trading activity remains relatively light at current price levels. Shipments...Weekly export inspections showed a marked slow-down in the pace of U.S. wheat shipments last week, as inclement weather hampered any significant movement off the west coast. Total U.S. wheat shipments were down about 50% from the prior week at 8.9 mb, putting year-to-date totals at 415 mb and 27% ahead of last year. Hard red winter was the top mover, with 3.9 mb loading mostly out of the Gulf. Hard red spring loaded-out a total of 3 mb and white wheat shipped less than half a million bushels. Crop Progress.The first official assessment of winter wheat conditions across the Pacific Northwest shows the crop is off to a tremendous start. Recent moisture has put good to excellent ratings for Idaho and Oregon at 71%, versus respective ratings of 55% and 8% a year ago. Washington rates at 88%; up 32% from a year ago. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.