Portland Grain Review 01/20

January 20, 2017 Portland Price Trends 01-02-16 08-01-16 12-01-16 01-13-17 01-20-17 #1 SWW (bu) 5.35 4.95 4.55 4.59 4.60 White Club 6.60 4.95 4.70 4.74 4.75 DNS 14% 6.17 6.03 6.53 7.01 6.95 HRW 11.5% 5.60 5.10 4.88 5.34 5.28 #2 Corn (ton) 159.00 158.00 148.00 164.00 173.00 #2 Barley 150.00 135.00 115.00 115.00 115.00 Wheat...West coast wheat markets held to a relatively narrow trading range through the week, with protein wheat basis levels holding firm and white wheat basis remaining defensive on any gains in Chicago. Overall demand for protein wheat remains good while the recent pace of sales for soft white have been weak. Export bid structures show all markets being bid flat through March. Weekly Sales...USDA reported total wheat sales slipped from the prior week, coming in at a disappointing 8.9 mb to put year-to-date commitments at 793 mb; 31% ahead of last year adn 6% above the five-year average pace. Hard red spring and hard red winter both saw an additional 3.3 mb in sales for the week. Spring wheat now stands with 256 mb in commitments, which is 30% above both last year and five-year average. Hard red winter sales are at 321 mb; up 89% over a year ago and 23% above average. Soft white wheat sales came in at 1.4 mb, placing year-to-date commitments at 131 mb which stands 16% above a year ago but 1% behind average. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.