Portland Grain Review 02/14

February 14, 2017 Portland Price Trends 02-01-16 08-01-16 01-02-17 02-07-17 02-14-17 #1 SWW (bu) 5.30 4.95 4.53 4.72 4.82 White Club 6.55 4.95 4.68 4.87 4.97 DNS 14% 6.20 6.03 6.58 6.90 7.03 HRW 11.5% 5.62 5.10 5.03 5.27 5.53 #2 Corn (ton) 162.00 158.00 159.00 169.00 171.00 #2 Barley 145.00 135.00 115.00 115.00 115.00 Wheat...West coast wheat markets have sustained most of the recent gain against the futures complex, with basis levels holding steady on hard red winter and springs but defensive on white wheat. Last week's price advance triggered a fair amount of farm selling as white wheat markets hit the best levels since early fall and spring wheat broke well above the $7 mark. Bid structures show exporter interest remains in the nearby delivery positions as no carries are posted through June. Shipments...Weekly export inspections showed total U.S. wheat loadings coming in about half the prior week's level at 11.2 mb, with shipments off the west coast notably hampered by inclement weather. Total U.S. loadings stand at 654 mb for the marketing year, up 26% over a year ago. Hard red winter was top shipper for the week with 6.5 mb off all ports, followed by hard red spring with 2 mb. Soft red winter recorded 1.1 mb and there were virtually no soft white loadings. Top destination off the west coast was Japan with 1.5 mb, followed by China with 1.1 mb and South Korea with 1 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.