Portland Grain Review 04/20
20 Apr 2017
April 20, 2017 Portland Price Trends 04-01-16 08-01-16 03-01-17 04-13-17 04-20-17 #1 SWW (bu) 5.14 4.95 4.90 4.80 4.66 White Club 5.34 4.95 5.05 4.95 4.81 DNS 14% 6.24 6.03 6.96 6.65 6.62 HRW 11.5% 5.52 5.10 5.47 5.02 4.77 #2 Corn (ton) 153.00 158.00 175.00 161.00 156.00 #2 Barley 140.00 135.00 118.00 125.00 125.00 Wheat...A CCC donation tender on white wheat for Yemen strengthened the nearby basis for that class of wheat this week, but all wheats moved lower against declines across respective futures markets. Intermittent showers continued to delay spring planting activity in the Pacific Northwest this week, with many areas more than 50% behind the average planting pace. Weekly Sales...USDA reported another relatively good week of demand for U.S. wheat, coming in at 15.2 mb to put year-to-date commitments at 1.016 bln bushels; up 41% from a year ago and 9% above the five-year average for mid-April. Top seller was hard red winter, surpassing the four-week average with 9.8 mb and placing sales at 424 mb; more than doubale a year ago and 30% above average. Soft white demand was also above the four-week average at 2.5 mb, placing current year demand 26% ahead of a year ago at 174 mb. Hard red spring secured another 2.3 mb, standing at 311 mb and 31% above a year ago. Top Buyers...Indonesia took top buyer honors last week with 2.7 mb of hard red winter, followed by Japan and Mexico with 2.6 mb each. Rounding out the top five were South Korea with 2.5 mb and Nigeria with 2.2 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.