Portland Grain Review 01/10

January 10, 2017 Portland Price Trends 01-02-16 08-01-16 12-01-16 01-03-16 01-10-17 #1 SWW (bu) 5.35 4.95 4.55 4.50 4.60 White Club 6.60 4.95 4.70 4.65 4.75 DNS 14% 6.17 6.03 6.53 6.57 6.91 HRW 11.5% 5.60 5.10 4.88 4.99 5.23 #2 Corn (ton) 159.00 158.00 148.00 160.00 162.00 #2 Barley 150.00 135.00 115.00 115.00 115.00 Wheat..Generally quiet early-week trade with limited offers across the PNW wheat complex saw exporters propping-up hard red spring wheat bids as basis levels gained another dime. As a result, hard red spring wheat bids have now moved to the highest levels since July of last year, approaching the $7 mark. The recent run in KC futures and firm basis levels have put hard red winter bids at the highest levels since last August, while white wheat bids lanquish amidst limited export demand and hover about a dime above recent lows. Shipments...Weekly export inspections showed a relatively light week for export movement, with only 9.5 mb shipped off all ports. Year-to-date shipments now stand at 580 mb and 26% ahead of last year. Hard red winter was top shipper for the week with 5 mb, followed by hard red spring with 2.4 mb and soft red winter with 1.4 mb. White wheat loaded less than a million bushels. Top destination off west coast ports was Indonesia with 2.7 mb, Guatemala loaded 1.3 mb and both Taiwan and South Korea took on about 850,000 bushels each. -Norm Ruhoff Extension Economist University of Idaho CALS-AERS Copyright 2017 DTN/Telvent. All Rights Reserved.