Portland Grain Review 11/15

November 15, 2016 Portland Price Trends 11-01-15 01-01-16 10-01-16 11-08-16 11-15-16 #1 SWW (bu) 5.68 5.35 4.65 4.78 4.71 White Club 7.48 6.60 4.85 4.98 4.86 DNS 14% 5.98 6.17 6.36 6.29 6.30 HRW 11.5% 6.62 5.60 5.02 5.07 4.98 #2 Corn (ton) 161.00 154.00 160.00 151.00 142.00 #2 Barley 150.00 150.00 120.00 115.00 115.00 Wheat...West coast wheat markets languished in early-week trade, with cash prices drifting against a lower start to the week across the futures complex and closing modestly higher today. Recent farmer selling has most of the trade scrambling to move wheat toward export channels prior to the extended closure of the river system in December. Japan is tendering this week for a total of 5 mb; mostly from the U.S. with a small portion from Canada and no Australian wheat. Shipments...Weekly export inspections showed a marked slowdown in the pace of wheat loadings off U.S. ports last week. Total shipments of 6.8 mb were about a third of the prior week's level, putting overall current year shipmets at 454 mb and 28% ahead of last year. Top shipper for the week was hard red winter with 5 mb. Crop Progress...Pacific Northwest winter wheat ratings reflect what has been at or near-record amounts of precipitation over the past month. The three-state weighted index currently stands at 401 (VP=100 EX=500); 110% of the five-year average index for mid-November, best of the past five years and 60 points above the weak starting winter wheat crops of the past two years. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.