Portland Grain Review 03/02
2 Mar 2017
March 2, 2017 Portland Price Trends 03-01-16 08-01-16 02-01-17 02-23-17 03-02-17 #1 SWW (bu) 4.90 4.95 4.68 4.85 4.90 White Club 5.20 4.95 4.83 5.00 5.05 DNS 14% 5.95 6.03 6.91 6.89 6.93 HRW 11.5% 5.34 5.10 5.19 5.44 5.50 #2 Corn (ton) 153.00 158.00 169.00 174.00 175.00 #2 Barley 145.00 135.00 115.00 115.00 118.00 Wheat...West coast white wheat markets advanced against higher Chicago futures this week, moving within a dime of the $5 mark and to the highest levels since August of last year. Protein wheat markets also move higher, reflective of modest week-to-week gains across the futures complex. Export bid structures show markets remain flat into June. Weekly Sales...USDA reported export demand for U.S. wheat declined for the second straight week, coming in 27% below the four-week average at 13 mb. Year-to-date commitments now stand at 909 mb, which is 37% ahead of a year ago and 7% above the five-year average pace. Top seller over the past week was hard red winter with 7 mb, placing total commitments at 371 mb and 95% ahead of last year and 26% above average. Hard red spring saw 4.3 mb in new sales, putting year-to-date sales at 285 mb which is now 31% ahead of last year and 26% above average. Soft red winter booked 1.2 mb, white wheat sales were less than a million bushels. Soft white sales at 158 mb stand 29% ahead of a year ago and 3% above the five-year average. Top Buyers...Mexico was top buyer of U.S. wheat over the past week with 2.6 mb, followed by the Philippines with 2.1 mb, Japan with 2 mb, Algeria with 1.8 mb. Guatemala rounded-out the top five with 1 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.