Portland Grain Review 04/06

April 6, 2017 Portland Price Trends 04-01-16 08-01-16 03-01-17 03-30-17 04-06-17 #1 SWW (bu) 5.14 4.95 4.90 4.78 4.75 White Club 5.34 4.95 5.05 4.93 4.90 DNS 14% 6.24 6.03 6.96 6.78 6.56 HRW 11.5% 5.52 5.10 5.47 4.92 4.96 #2 Corn (ton) 153.00 158.00 175.00 157.00 157.00 #2 Barley 140.00 135.00 118.00 120.00 120.00 Wheat...West coast wheat markets were generally reflective of futures markets this week, as mostly steady basis levels on all the wheats moved prices lower. Trade remains relatively quiet, with exporters working on a Japanese tender this week. Weekly Sales...USDA reported another solid week of export demand for U.S. wheat, coming in at the best level since early January at 20.9 mb. Year-to-date commitments stand at 985 mb, which stands 40% above a year ago and 8% above the five-year average pace. Top seller for the week was hard red winter with 9.8 mb, placing current year sales at more than double a year ago and 28% ahead of average at 406 mb. Sales of hard red spring came in at 4.7 mb, moving commitments nearly 30% ahead of a year ago and 26% above average at 304 mb. White wheat also saw an improved week of demand, coming in at the best level since mid-January at 4 mb. Year-to-date demand of 170 mb is 27% ahead of last year and 4% over the five-year average pace for the end of March. Top Buyers...Sales to unknown destinations accounted for nearly 5 mb of the weekly total, followed by Taiwan with 3.6 mb, Algeria with 3.4 mb and South Korea with 2.4 mb. Mexico booked another 2 mb and Japan took 1.7 mb for the week. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.