Portland Grain Review 03/30

March 30, 2017 Portland Price Trends 03-01-16 08-01-16 02-01-17 03-23-17 03-30-17 #1 SWW (bu) 4.90 4.95 4.68 4.82 4.78 White Club 5.20 4.95 4.83 4.97 4.93 DNS 14% 5.95 6.03 6.91 6.76 6.78 HRW 11.5% 5.34 5.10 5.19 5.03 4.92 #2 Corn (ton) 153.00 158.00 169.00 154.00 157.00 #2 Barley 145.00 135.00 115.00 120.00 120.00 Wheat...With basis levels holding unchanged on both hard red winter and hard red spring wheat, those markets were directly reflective of a higher move in Minneapolis and retreat in KC futures this week. White wheat held near the $4.80 level as basis improvement offset some of the declines in Chicago futures. General trading across all markets was termed light. Weekly Sales...USDA reported another relatively good week of demand for U.S. wheat, coming in 33% above the four-week average at 17.1 mb. Current year demand now stands at 964 mb, which is 36% ahead of a year ago and 6% above the five-year average. Hard red winter was top seller, registering more than 9 mb for the second straight week to put year-to-date sales at 396 mb; 98% ahead of a year ago and 26% above average. Sales for hard red spring came in at 3.8 mb, placing total sales at 290 mb which is 27% over a year ago and 25% ahead of average. Soft white wheat demand was the best in three weeks at 2.6 mb, placing commitments at 166 mb which is 22% ahead of last year and 2% above average. Top Buyers...Both Saudi Arabia and the Philippines were at the top end of the buying list over the past week, each taking nearly 4.4 mb. Mexico booked 2.7 mb, followed by Indonesia with 2.6 mb and Taiwan with 1.8 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.