Portland Grain Review 02/09

February 9, 2017 Portland Price Trends 02-01-16 08-01-16 01-02-17 02-02-17 02-09-17 #1 SWW (bu) 5.30 4.95 4.53 4.70 4.82 White Club 6.55 4.95 4.68 4.85 4.97 DNS 14% 6.20 6.03 6.58 6.94 7.01 HRW 11.5% 5.62 5.10 5.03 5.31 5.38 #2 Corn (ton) 162.00 158.00 159.00 172.00 170.00 #2 Barley 145.00 135.00 115.00 115.00 115.00 Wheat..West coast wheat markets posted gains across the board this week, following the uptick in futures. Basis levels held mostly steady for both hard red winter and spring wheat, while wheat wheat basis strengthened by a nickel to put flat prices at the highest level since last September. Weekly Sales..USDA reported another solid week of interest from global buyers for U.S. wheat, coming in above the four-week average at 19.4 mb to put current year commitments at 860 mb. This tally stands 37% ahead of a year ago and 7% above the five-year average pace. Top seller was hard red winter with 10 mb, putting year-to-date commitments nearly double that of a year ago at 349 mb and also 26% above average. Hard red spring sales hit the 5 mb mark or better for the third straight week and at 349 mb, demand this year is more than 30% ahead of both last year and average. Soft red winter sales of 2.6 mb put sales at 75 mb which is 27% behind a year ago. Soft white demand came in at 1.8 mb, placing current year commitments at 147 mb; 24% ahead of a year ago and right at the five-year average pace. Top Buyers...Wheat sales were scattered to a long list of buyers over the past week, topped by 3.3 mb to Japan, 2.5 mb to Mexico and 2.4 mb to the Philippines. Morocco and Chile rounded-out the top five with 2.2 mb each. China also booked another 1.4 mb of U.S. hard red spring wheat. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.