Portland Grain Review 12/08

December 8, 2016 Portland Price Trends 12-01-15 01-01-16 11-01-16 12-01-16 12-08-16 #1 SWW (bu) 5.40 5.35 4.75 4.55 4.68 White Club 6.65 6.60 5.00 4.70 4.83 DNS 14% 5.69 6.17 6.34 6.53 6.46 HRW 11.5% 6.52 5.60 5.04 4.88 4.90 #2 Corn (ton) 159.00 154.00 145.00 149.00 153.00 #2 Barley 150.00 150.00 115.00 115.00 115.00 Wheat...Marketing activity remained relatively light on the west coast through the week, with current price levels generating only limited trade. Recent setbacks in hard red winter prices have triggered the highest level of loan deficiency payments for the marketing year on that class of wheat, with some producter redemptions taking place. Weekly Sales...Total U.S. wheat sales held in line with the prior week, short of the four-week average but near the marketing year weekly average. Sales of 18.5 mb put the year-to-date total at 712 mb, which stands at 32% ahead of a year ago and 7% above the five-year average. Top seller for the week was hard red spring with 7.3 mb, putting current year sales 32% above a year ago and 29% ahead of average. Hard red winter rebounded, coming in double last week at 6.6 mb to put commitments at 288 mb; 91% ahead of last year and 25% above average. Soft white wheat sales slipped to a third of the four-week average at 1.7 mb, placing year-to-date demand at 122 mb and 20% above a year ago and 4% ahead of average. Top Buyers...Taiwan registered at top buyer for the week, claiming 4.6 mb of mostly hard red spring and white wheat. Japan booked a total of 3.8 mb, and China stepped in for the second straight week with another 2.1 mb of mostly white wheat. Mexico also bought 2.1 mb, and Nigeria rounded-out the top five for the week with 1.4 mb. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.