Portland Grain Review 05/02

May 2, 2017 Portland Price Trends 05-01-16 08-01-16 04-01-17 04-25-17 05-02-17 #1 SWW (bu) 5.33 4.95 4.82 4.75 4.90 White Club 5.53 4.95 4.97 4.90 5.05 DNS 14% 6.21 6.03 6.66 6.68 6.82 HRW 11.5% 5.31 5.10 4.94 4.86 5.38 #2 Corn (ton) 167.00 158.00 160.00 159.00 161.00 #2 Barley 145.00 135.00 120.00 125.00 125.00 Wheat..The sharp early-week upward move across the futures complex put a much-needed spark in west coast wheat markets, moving white wheat bids to the highest levels since early March. White wheat basis was defensive against Chicago, pulling back to 30 over before rebounding today. Export interest in nearby movement into Portland remains apparent, as shipments have been hampered by high water levels through the river system. Shipments...Weekly export inspections showed another relatively strong week of wheat loadings off U.S. ports, coming in above 21 mb to put year- to-date shipments 32% ahead of a year ago at 896 mb. Top shipper for the week was hard red winter with 7.2 mb, followed by hard red spring at 5.8 mb. Soft white registered a healthy 3.7 mb. Major destinations for the week off the PNW were the Philippines and Japan. Crop Progress...USDA winter wheat conditions showed a general decline for Idaho over the past week being mostly offset by improvement for both Oregon and Washington. Overall, the three-state weighted index dropped a point to settle right at the average for the past 20 years. Idaho posted a 7% decline in good to excellent to 61%, and poor to very poor climbed 2 points to 7%. Oregon saw excellent improve 6% and Washington gained 2%, for respective good to excellent ratings of 85% and 83%. Spring planting progress places wheat plantings at 49% for both Idaho and Washington; off 33% from the average pace for those states. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.