Portland Grain Review 04/27
27 Apr 2017
April 27, 2017 Portland Price Trends 04-01-16 08-01-16 03-01-17 04-20-17 04-27-17 #1 SWW (bu) 5.14 4.95 4.90 4.66 4.80 White Club 5.34 4.95 5.05 4.81 4.95 DNS 14% 6.24 6.03 6.96 6.62 6.78 HRW 11.5% 5.52 5.10 5.47 4.77 5.04 #2 Corn (ton) 153.00 158.00 175.00 156.00 158.00 #2 Barley 140.00 135.00 118.00 125.00 125.00 Wheat...West coast exporters made the roll to July futures this week, with basis levels declining to reflect carries in the respective futures. Recent donation business from Commodity Credit Corporation has bolstered buying interest in white wheat, strengthening basis as a result. Overall market structure shows bids for all wheats flat through July. Wet weather continues to hamper planting progress across the Pacific Northwest. Weekly Sales...USDA reported a dismal week of demand for U.S. wheat as sales hit a marketing year low of only 2.3 mb. Year-to-date commitments now stand at 1.018 bln bushels; 39% better than a year ago and 8% above the five-year average pace. White wheat accounted for the majority of the interest last week with 1.8 mb, standing at 176 mb for the year which is 26% ahead of a year ago and 6% above average. Hard red winter garnered a total of 1.4 mb for the week, hard red spring registered a modest decline. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.