Portland Grain Review 12/13

December 13, 2018 Portland Price Trends 12-01-17 01-01-18 11-01-18 12-06-18 12-13-18 #1 SWW (bu) 5.22 5.32 6.22 6.22 6.25 White Club 5.27 5.32 6.22 6.22 6.25 DNS 14% 7.61 7.52 6.92 6.93 7.02 HRW 11.5% 5.72 5.60 6.51 6.60 6.70 #2 Corn (ton) 153.00 157.00 159.00 172.00 170.00 #2 Barley 125.00 128.00 140.00 140.00 140.00 Wheat...Strong export demand moved west coast wheat markets higher on the week, with basis levels holding firm on protein wheats and weakening for soft white. Dark northern spring 14% protein bids moved back above $7 today, while hard red winter also posted the best price levels in a month. Weekly Sales...USDA showed a surge in U.S. wheat export demand for the second straight week, as sales once again set the second best weekly total of the marketing year at 27.7 mb. Overall wheat export commitments are now at 601 mb; 6$ behind a year ago and 11% behind the five-year average. Top seller was hard red winter, marking the best week of the year with 15.4 mb to put sales at 182 mb, which is 28% behind a year ago. Sales for hard red spring also remained solid at 5 mb, putting the current year total at 188 mb; up 8% from last year and on track with average. Soft red winter booked 3.8 mb and with 78 mb in sales stands 28% ahead of last year. Soft white match last week with 3.6 mb, setting with 139 mb which is 17% ahead of the five-year average pace. Top Buyers...The top buyer for the week was classified as unknown, but accounted for 7.8 mb in wheat purchases. Japan booked 4.1 mb, Nigeria was in for 3.3 mb, Singapore at 2.4 mb and Mexico with 2.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.