Portland Grain Review 02/16

February 16, 2017 Portland Price Trends 02-01-16 08-01-16 01-02-17 02-09-17 02-16-17 #1 SWW (bu) 5.30 4.95 4.53 4.82 4.80 White Club 6.55 4.95 4.68 4.97 4.95 DNS 14% 6.20 6.03 6.58 7.01 6.91 HRW 11.5% 5.62 5.10 5.03 5.38 5.46 #2 Corn (ton) 162.00 158.00 159.00 170.00 176.00 #2 Barley 145.00 135.00 115.00 115.00 115.00 Wheat...West coast wheat markets gave back some of the recent gains made over the past few weeks today, following the retreat across futures markets. Both hard red winter and hard red spring took the bigger hit as basis levels held steady against the decline, while white wheat basis firmed. Weekly Sales...USDA reported another healthy week of demand for the U.S. wheat market, as total sales came in near 21 mb to put year-to-date sales at 881 mb; up 39% over last year and 8% above the five-year average pace. Both hard red winter and white wheat were top sellers with 7.8 mb. Sales of hard red winter now stand at 357 mb which is 97% ahead of a year ago and 27% above the five-year average. White wheat commitments stand at 155 mb; 29% ahead of a year ago and 3% above average. Hard red spring wheat sales of 3.7 put the current year total 30% ahead of both last year and average at 218 mb. Top Buyers..Top buyer for the past week was unknown with a total of 5.5 mb, followed by Mexico with 3.6 mb. Both Nigeria and South Korea secured another 2.3 mb and Yemen booked 1.8 mb. Unknown, South Korea and Yemen all contributed to the strong white wheat sales numbers. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.