Portland Grain Review 12/07

December 7, 2017 Portland Price Trends 12-01-16 01-01-17 11-01-17 11-30-17 12-07-17 #1 SWW (bu) 4.55 4.50 5.23 5.21 5.17 White Club 4.70 4.65 5.28 5.26 5.22 DNS 14% 6.53 6.57 7.49 7.51 7.43 HRW 11.5% 4.88 4.99 5.60 5.66 5.55 #2 Corn (ton) 148.00 160.00 145.00 148.00 152.00 #2 Barley 115.00 115.00 125.00 125.00 125.00 Wheat...West coast white wheat bids saw basis levels firming against a lower Chicago market this week, offsetting some of the declines across the futures complex. Basis on protein wheats held mostly steady and reflected the full setback in futures this week. Aside from routine interest out of Japan, export demand remains relatively light. Weekly Sales...USDA reported a modest rebound in export demand for U.S. wheat last week, coming in at the best levels in three weeks but remaining below the four-week average. Total wheat sales of 11.8 mb put the current year sales at 642 mb, which stand 10% below late November last year and 4% below the five-year average pace. Top seller was hard red winter with 7.5 mb, placing sales at 254 mb; 12% under a year ago but 7% above the average. Hard red spring garnered 1.6 mb and set 23% behind a year ago and 7% under average with 174 mb booked. Soft white wheat tallied 1.2 mb for the week, setting 19% ahead of last year and 25% above average with 145 in sales. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.