Portland Grain Review 06/02
2 Jun 2017
June 2, 2017 Portland Price Trends 06-01-16 08-01-16 05-01-17 05-26-17 06-02-17 #1 SWW (bu) 5.35 4.95 4.87 4.95 4.90 White Club 5.35 4.95 5.02 5.10 5.05 DNS 14% 6.29 6.03 6.88 6.93 7.11 HRW 11.5% 5.41 5.10 5.36 5.17 5.18 #2 Corn (ton) 179.00 158.00 161.00 160.00 159.00 #2 Barley 145.00 135.00 125.00 127.00 127.00 Wheat...Firm basis levels backed by recent demand propped-up bids for west coast wheat markets this week. USDA confirmed a good week of demand, signaling U.S. competitiveness, and hot weather across the midwest put a spur in futures. Trading remained relatively light through the week as white wheat bids have been well-worn at the $4.90 level. Weekly Sales...USDA reported a solid week of demand for U.S. wheat as total new crop sales came in just under 29 mb, putting commitments into the coming year at 157 mb versus 207 mb a year ago. Hard red winter was the top seller with 15 mb, followed by white wheat with 7.3 mb and hard red spring with 4.7 mb. Japan was top overall buyer for the week. Other notables were a sale of 4.2 mb of hard red winter to Egypt, and a 2.4 mb sale of white wheat to Sri Lanka. Mexico and South Korea were also near the top end of buyers for the week. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.