Portland Grain Review 12/11

December 11, 2018 Portland Price Trends 12-01-17 01-01-18 11-01-18 12-04-18 12-11-18 #1 SWW (bu) 5.22 5.32 6.22 6.22 6.15 White Club 5.27 5.32 6.22 6.22 6.15 DNS 14% 7.61 7.52 6.92 6.95 6.90 HRW 11.5% 5.72 5.60 6.51 6.55 6.53 #2 Corn (ton) 153.00 157.00 159.00 171.00 172.00 #2 Barley 125.00 128.00 140.00 140.00 140.00 Wheat...West coast markets opened the week with white wheat basis a bit defensive against Chicago, while protein wheats held firm and bid structure showed the markets flat thru January. Trading remains relatively light. Crop Report...USDA acknowledged an improved pace of export demand for US white wheat, bumping exports 5 mb to 220 mb which would be the best levels since 1996. If realized, this is expected to trim ending stocks to 49 mb, putting stocks-to-use at 16%; second lowest ratio of the past twenty years. Shipments...Weekly export inspections for wheat showed a modest week-to- week decline, coming in at 15.3 mb to put total shipments ar 404 mb. White wheat was top shipper for the week with 4.9 mb, followed by hard red winter with 4.4 mb and hard red spring with 4.3 mb. Top destination off the west coast ports was Indonesia with 2.8 mb, followed by the Philippines at 2 mb and Yemen with 1.9 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.