Portland Grain Review 12/04

December 4, 2018 Portland Price Trends 12-01-17 01-01-18 11-01-18 11-27-18 12-04-18 #1 SWW (bu) 5.22 5.32 6.22 6.18 6.22 White Club 5.27 5.32 6.22 6.18 6.22 DNS 14% 7.61 7.52 6.92 6.81 6.95 HRW 11.5% 5.72 5.60 6.51 6.20 6.55 #2 Corn (ton) 153.00 157.00 159.00 161.00 171.00 #2 Barley 125.00 128.00 140.00 140.00 140.00 Wheat...West coast wheat markets opened the week with bids holding to the upper end of a three-week price range. Basis levels remained firm on the protein wheats while spreads between soft white and Chicago weakened. Japan is tendering this week for a total of 5.2 mb, which includes 2.3 mb of U.S. wheat for January shipment. Revised estimates from ABARE have put the Australian wheat crop just under 17 mmt; half a million tonnes under the November estimate from USDA. Shipments...Weekly export inspections showed U.S. wheat shipments made a sharp rebound from the holiday-slowed week, loading 17.3 mb to put the year-to-date total at 389 mb and 17% behind a year ago. Hard red spring was the top shipper with 7.2 mb, followed by hard red winter with 5.4 mb and soft white at 2.8 mb. Top destinations off the PNW were Guatemala at 3.2 mb, follwed by Vietnam with 2.5 mb and Thailand with 2.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.