Portland Grain Review 11/01

November 1, 2016 Portland Price Trends 11-01-15 01-01-16 10-01-16 10-25-16 11-01-16 #1 SWW (bu) 5.68 5.35 4.65 4.75 4.75 White Club 7.48 6.60 4.85 5.05 5.00 DNS 14% 5.98 6.17 6.36 6.39 6.34 HRW 11.5% 6.62 5.60 5.02 5.03 5.04 #2 Corn (ton) 161.00 154.00 160.00 146.00 145.00 #2 Barley 150.00 150.00 120.00 115.00 115.00 Wheat...West coast wheat prices remain in an extremely tight trading range, as exporters continue to see limited inquiries and farmer selling remains light. White wheat bids have seen a shift toward more carries in the market, as front month delivery bids have gone from being flat to a carry of 3 cents per month for December forward. Basis has also been on the defensive against any strength in Chicago; indicating limited nearby buying interest. Shipments...Weekly export inspections showed a slower pace of loadings for U.S. wheat off all ports last week. Total shipments of just under 12 mb puts the year-to-date total at 427 mb, which stands 29% ahead of last year. Hard red spring and white wheat were the top shippers for the week, coming in with 4.4 mb each. Hard red winter registered only 1.9 mb over the past week, and soft red winter 1.2 mb. Top destination off the west coast was the Philippines with 6.2 mb, with Japan and South Korea being the other two destinations. Crop Progress...A record month for precipitation across many parts of the Pacific Northwest has winter wheat crops off to a great start. Good to excellent ratings for Washington climbed a point to 89%, Idaho gained 3 points to 74% and Oregon stands at 67%. Wet conditions have restricted plantings however, with 10% or more of the crop yet to be sowed for the three-state region. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.