Portland Grain Review 11/17

November 17, 2016 Portland Price Trends 11-01-15 01-01-16 10-01-16 11-10-16 11-17-16 #1 SWW (bu) 5.68 5.35 4.65 4.70 4.71 White Club 7.48 6.60 4.85 4.85 4.86 DNS 14% 5.98 6.17 6.36 6.30 6.42 HRW 11.5% 6.62 5.60 5.02 4.99 5.11 #2 Corn (ton) 161.00 154.00 160.00 144.00 142.00 #2 Barley 150.00 150.00 120.00 115.00 115.00 Wheat...West coast export bids made the roll to March futures today, and closed higher against gains across the complex. Bid structures have white wheat showing 3 cent per month carries while protein wheats show a flat market into the spring months. Japan was in the market this week, covering 3.7 mb of mostly hard red winter and springs from the U.S. Weekly Sales...USDA reported another solid week of export demand for U.S. wheat, coming in at 22 mb to put year-to-date sales at 649 mb; 29% ahead of a year ago and 5% above the five-year average pace. Top seller for the week was hard red spring with 6.7 mb, putting current year sales at 200 mb; 22% ahead of both last year and five-year average. Soft white registered a healthy 5.3 mb to place commitments at 111 mb; up 17% from a year ago and 5% ahead of average. Hard red winter recorded 5 mb in new business and sets at 267 mb sold; 91% ahead of last year and 22% above the five-year pace. Top Buyers..Unknown was top buyer for the week with 6.5 mb, followed by the Philippines with 3 mb, the Dominion Republic with 2.2 mb; Japan with 1.8 mb and Nigeria with 1.5 mb. Overall sales to Brazil are more than double a year ago at 38 mb; Indonesian purchases are up 150% from last year at 18 mb; and commitments from Venezuela, Peru and Chile are all running 60% or more ahead of a year ago with a total of 17.5 mb. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.