Portland Grain Review 11/01

November 1, 2018 Portland Price Trends 11-01-17 01-01-18 10-01-18 010-25-18 11-01-18 #1 SWW (bu) 5.23 5.32 6.15 6.10 6.20 White Club 5.28 5.32 6.15 6.10 6.20 DNS 14% 7.49 7.52 6.67 6.84 6.88 HRW 11.5% 5.60 5.60 6.36 6.31 6.50 #2 Corn (ton) 145.00 157.00 157.00 158.00 156.00 #2 Barley 125.00 128.00 140.00 140.00 140.00 Wheat...West coast wheat markets showed basis levels firming through the week for all classes, with both hard red winter and springs gaining five to ten cents. Cash bids for white wheat are holding within a dime of multi-year highs near the $6.25 level. Weekly Sales...USDA reported a surge in export demand for U.S. wheat over the past week, as overall sales of 21.4 mb were the third best week for the marketing year. Year-to-date sales now stand at 481 mb, which is 14% behind a year ago and 18% behind the five-year average pace. Topping the list was hard red spring wheat with 8 mb, which puts sales for that class at 154 mb; 9% behind a year ago and 4% below the average. Hard red winter also had a solid week at 7.2 mb, placing sales at 138 mb which is 33% behind both a year ago and average. Soft white garnered another 3.7 mb and with 118 mb in export commitments stands 9% behind a year ago but 16% above average. Top Buyers...Japan claimed top buyer honors for the week with 4.4 mb. Tying for second spot with 2.2 mb each were Bangladesh, buying hard red spring, and Vietnam and Venezuela. Yemen bought 1.8 mb of soft white and Egypt surfaced for a 1.8 mb purchase of hard red winter. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.