Portland Grain Review 12/15

December 15, 2016 Portland Price Trends 12-01-15 01-01-16 11-01-16 12-08-16 12-15-16 #1 SWW (bu) 5.40 5.35 4.75 4.68 4.68 White Club 6.65 6.60 5.00 4.83 4.83 DNS 14% 5.69 6.17 6.34 6.46 6.46 HRW 11.5% 6.52 5.60 5.04 4.90 4.90 #2 Corn (ton) 159.00 154.00 145.00 153.00 153.00 #2 Barley 150.00 150.00 115.00 115.00 115.00 Wheat..Lower Chicago markets and weaker basis levels pulled west coast white wheat bids to a new marketing year low today, as the current pace of export demand and river system closure temper exporter interest. Bids on all wheats remain flat, with no carries being posted through old crop. Weekly Sales...USDA reported total U.S. wheat sales held in-line with the past two weeks, coming in at 19.5 mb to put year-to-date sales at 731 mb; 33% above a year ago and 7% ahead of the five-year average. Current percentages also place demand totals ahead of USDA projections. Hard red spring was top seller for the week with 9 mb, including another 2 mb that went to China, and sets more than 30% above both last year and the five- year average. Hard red winter registered 4.4 mb, holding 89% ahead of a year ago and 24% above average. White wheat sales came in at 2.6 mb, for a year-to-date total of 125 mb that is 21% ahead of last year and 3% over the five-year average. Top Buyers...Topping the list of buyers last week was Nigeria, with a total of 3.5 mb, followed by Morocco and China with 2.2 mb each. Thailand with 2 mb and Mexico at 1.6 mb. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2016 DTN/Telvent. All Rights Reserved.