Portland Grain Review 01/17

January 17, 2017 Portland Price Trends 01-02-16 08-01-16 12-01-16 01-10-16 01-17-17 #1 SWW (bu) 5.35 4.95 4.55 4.60 4.60 White Club 6.60 4.95 4.70 4.75 4.75 DNS 14% 6.17 6.03 6.53 6.91 6.94 HRW 11.5% 5.60 5.10 4.88 5.23 5.37 #2 Corn (ton) 159.00 158.00 148.00 162.00 171.00 #2 Barley 150.00 135.00 115.00 115.00 115.00 Wheat...Wheat futures started off the fourth straight week on higher ground, contributing to additional strength for west coast wheat prices. Weaker basis levels held white wheat gains in check, while a firm basis on red wheats helped dark northern spring 14% pro bids break the $7 mark for the first time since July 2015 before closing lower today. Hard red winter 11.5% was bid atthe $7.40 mark today; the best price since June of last year. Barley markets also remained active, with traders seeing good interest in nearby feeder demand. Shipments...Weekly export inspections confirmed inclimate weather on the west coast curtailed shipping activity, with overall U.S. shipments for wheat coming in at 12.6 mb for the week. Year-to-date shipments now stand at 593 mb and 25% ahead of a year ago. With loadings off the Gulf accounting for more that half the loading activity for the week, hard red winter was the top shipper with 7.3 mb, followed by hard red spring with 2.6 mb. Both soft white and soft red winter each loaded-out about 1.3 mb for the week. The Philippines was top destination off the west coast, with Nigeria and Mexico being top destinations out of the Gulf. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.