Portland Grain Review 11/27

November 27, 2018 Portland Price Trends 11-01-17 01-01-18 10-01-18 11-20-18 11-27-18 #1 SWW (bu) 5.23 5.32 6.15 6.18 6.18 White Club 5.28 5.32 6.15 6.18 6.18 DNS 14% 7.49 7.52 6.67 6.81 6.81 HRW 11.5% 5.60 5.60 6.36 6.28 6.20 #2 Corn (ton) 145.00 157.00 157.00 161.00 161.00 #2 Barley 125.00 128.00 140.00 140.00 140.00 Wheat...Firming basis levels in west coast white wheat markets helped hold cash bids steady to a week ago, as exporters continue to keep bids on either side of $6.20. Recent swing demand serves as an indicator that U.S. white wheat is attractive to global buyers this year. Shipments...Weekly export inspections showed wheat movement slowed to a meager 9.2 mb, less than half the prior week and somewhat typical of a holiday week. Year-to-date loadings now stand at 370 mb and 18% behind a year ago. Top shipper for the week was soft white at 2.6 mb, followed by hard red winter at 2.2 mb and soft red winter with 2 mb. There were only two destinations for the week off the west coast ports; South Korea with 2.8 mb and Japan with 2.2 mb. Crop Progress...An extremely dry fall and late plantings have Oregon and Washington crops off to an average start relative to the past five years, while Idaho lags behind. Good to excellent ratings for Idaho at 59% stand nearly 20% behind average, Oregon is 3% ahead at 56% and the Washington crop sets 2% ahead of average at 65%. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.