Portland Grain Review 10/18

October 18, 2018 Portland Price Trends 10-01-17 01-01-18 09-01-18 010-11-18 10-18-18 #1 SWW (bu) 5.35 5.32 6.05 6.23 6.25 White Club 5.40 5.32 6.05 6.23 6.25 DNS 14% 7.41 7.52 6.84 6.89 6.85 HRW 11.5% 5.79 5.60 6.53 6.48 6.56 #2 Corn (ton) 141.00 157.00 156.00 163.00 164.00 #2 Barley 125.00 128.00 140.00 140.00 140.00 Wheat...Weaker Chicago futures were met by a stronger white wheat basis this week, holding cash bids at the marketing year high of $6.25. Markets remain relatively flat into December as exporters work to generate nearby selling. Hard red winter bid structures also show relatively flat numbers through November, with dark northern spring flat through December. Weekly Sales...USDA reported a resurgence in U.S. wheat export demand for the past week, driven primarily by sales of hard red spring and white wheat. Overall export sales came in at 17.5 mb, right at the four-week average, and places year-to-date sales at 445 mb; 15% behind a year ago and 19% under the five-year average total. Hard red spring booked a marketing year high of 10.2 mb, placing current year commitments at 139 mb which is 3% below a year ago and 6% under average. White wheat had another relatively strong week, coming in at 4 mb to put sales at 113 mb; 8% behind last year but 22% above the five year average. Hard red winter sales continue to languish, with just 1.1 mb sold last week to put sales at 125 mb; 35% behind both a year ago and average. Top Buyers...Bangladesh was a big buyer of hard red spring wheat last week and was top buyer for the week with 6.6 mb. Japan and Unknown both came in at the 2.8 mb level, followed by Ital with 1.3 mb and the Philippines at 1.2 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.