Portland Grain Review 03/01

March 1, 2018 Portland Price Trends 03-01-17 08-01-17 02-01-18 02-22-18 03-01-18 #1 SWW (bu) 4.90 5.20 5.42 5.60 5.78 White Club 5.05 5.30 5.42 5.60 5.78 DNS 14% 6.96 8.38 7.41 7.33 7.58 HRW 11.5% 5.52 5.65 6.17 6.25 6.77 #2 Corn (ton) 175.00 148.00 161.00 176.00 172.00 #2 Barley 158.00 125.00 140.00 150.00 150.00 Wheat..It was a big week for west coast wheat markets, as prices marked new marketing year highs for white and hard red winter wheat against sharp rallies across the wheat complex. Even with a defensive posture for white wheat basis to Chicago, spot bids gained nearly 20 cents from last week to a new high for the year of $5.78. Hard red winter basis remained firm and cash prices hit a new marketing year high of $6.77. Hard red spring stood well below the high of $9.30 set back in July of last year. Weekly Sales...Higher prices levels across the U.S. wheat complex pared global buying interest last week, coming in at the lowest level since early January. New commitments of 7 mb puts total U.S. wheat sales at 795 mb and 11% behind a year ago. Top seller was soft red winter with 2.7 mb. Hard red winter booked 2.8 mb to put sales at 319 mb and 12% below a year ago. White wheat saw 2.2 mb in new sales, putting the year-to-date total at 175 mb and 10% ahead of a year ago. Hard red spring saw net reductions of 1.3 mb, and stands at 206 mb which is 26% behind a year ago. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.