Portland Grain Review 01/24

January 24, 2017 Portland Price Trends 01-02-16 08-01-16 12-01-16 01-17-16 01-24-17 #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 6.94 6.92 HRW 11.5% 5.60 5.10 4.88 5.37 5.27 #2 Corn (ton) 159.00 158.00 148.00 171.00 170.00 #2 Barley 150.00 135.00 115.00 115.00 115.00 Wheat...West coast wheat markets held mostly steady early week, with basis levels holding firm on both hard red winter and hard red springs. White wheat prices continued to trend sideways, holding in near $4.60 as a defensive basis against Chicago holds advances in check. Overall buying interest for white wheat has slowed in recent weeks and current logistical constraints due to the river-system closure has kept export offers from being overly aggressive. Shipments...Weekly export inspections showed wheat movement off U.S. ports remains relatively slow, coming in at 10.1 mb for the week with overall shipments about evenly split between Gulf and PNW ports. Total wheat shipments now stand at 605 mb and 26% ahead of a year ago. Hard red spring was top shipper with 3.8 mb, followed by hard red winter at 3.6 mb. Soft white registered 1.3 mb for the week and soft red winter moved 1.2 mb. Top destination off the west coast was South Korea with 2 mb, with Guatemala and the Phillipines also on the list. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.