Portland Grain Review 11/08

November 8, 2016 Portland Price Trends 11-01-15 01-01-16 10-01-16 11-01-16 11-08-16 #1 SWW (bu) 5.68 5.35 4.65 4.75 4.78 White Club 7.48 6.60 4.85 5.00 4.98 DNS 14% 5.98 6.17 6.36 6.34 6.29 HRW 11.5% 6.62 5.60 5.02 5.04 5.07 #2 Corn (ton) 161.00 154.00 160.00 145.00 151.00 #2 Barley 150.00 150.00 120.00 115.00 115.00 Wheat...West coast white wheat markets spiked higher again today and met another modest round of farmer selling before tailing lower. Trade ranges have been largely confined to a nickel over the past week, with gains in Chicago muted by defensive basis. Spot basis on both springs and hard red winter have been holding steady. Shipments...Weekly export inspections showed a rebound in movement of wheat off U.S. ports last week, coming in at 18 mb to put shipments 30% ahead of last year at 494 mb. Hard red winter was top shipper with 9.3 mb, following by hard red spring at 3.7 mb and soft white at 3 mb. Top destinations off the west coast were Japan and the Philippines. Crop Progress...Planting percentages for the winter wheat crop show a small percentage of the crop yet to be sowed, as record precipitation for the Pacific Northwest through October curtailed progress. Open weather this week will allow growers to work towards completion, with just under 10% of the crop to be planted in Oregon and Washingtion, while Idaho has less than 5%. Crop Ratings...Above average precipitation this fall has winter wheat conditions near the high end of historical ranges. Washingtion rates at a 93% good to excellent, Oregon is at 65% and Idaho 74%. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.