Portland Grain Review 10/27

October 27, 2016 Portland Price Trends 10-01-15 01-01-16 09-01-16 10-20-16 10-27-16 #1 SWW (bu) 5.80 5.35 4.68 4.75 4.80 White Club 7.60 6.60 4.78 5.00 5.10 DNS 14% 6.71 6.17 5.96 6.46 6.40 HRW 11.5% 6.27 5.60 4.96 5.18 5.07 #2 Corn (ton) 168.00 154.00 153.00 150.00 148.00 #2 Barley 155.00 150.00 125.00 115.00 115.00 Wheat...West coast wheat markets adhered to a relatively tight trading range through the week, with moderating basis levels in both white wheat and hard red winter wheat offsetting some of the gains in the respective futures. Recent demand is also keeping the front side of the market flat for the next 60 days, with only hard red spring showing strong carry into January delivery positions. Weekly Sales...USDA reported that U.S. wheat continued to sustain good levels of demand again last week, with world buyers securing protein from U.S. hard red spring. Overall sales were 32% above the four-week average at 23.7 mb, placing year-to-date sales at 590 mb which stands 2% above a year ago and 2% above the five-year average. Hard red spring was the top seller, posting the second best weekly tally of the year with 11.3 mb to set at 183 mb in commitments and 20% above both last year and the average pace. White wheat also registered another good week with 5.6 mb in sales and stands 17% ahead of last year and 3% above average. Hard red winter demand came in at 4.4 mb; about half the four-week average. Sales stand at 247 mb which is 93% ahead of last year and 20% ahead of the five-year average pace. Top Buyers..Sales to unknown destinations accounted for nearly a third of the overall volume last week, with the majority of buying going toward hard red spring. Taiwan and Japan both came in near the 2.8 mb mark with Thailand and Colombia rounding out the top five with 2 mb each. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.