News & Resources

Portland Grain Review 01/17

17 Jan 2019
January 17, 2019 Portland Price Trends 01-01-18 08-01-18 12-01-18 01-10-19 01-17-19 #1 SWW (bu) 5.32 6.05 6.25 6.27 6.30 White Club 5.32 6.05 6.25 6.27 6.30 DNS 14% 7.52 7.08 6.91 6.74 6.77 HRW 11.5% 5.60 6.89 6.50 6.49 6.54 #2 Corn (ton) 157.00 160.00 166.00 163.00 170.00 #2 Barley 128.00 140.00 140.00 140.00 140.00 Wheat....A spike in the futures complex this morning pulled west coast wheat markets higher today, moving soft white wheat bids back to the high for the marketing year at $6.30. Spot basis levels also stand historically strong for white wheat and hard red winter. Dark northern spring basis is setting well-below average, weakening another nickel this week. Japan was in the market this week, buying 4 mb of wheat from the U.S., Australia and Canada. South Korea was also reportedly seeking U.S. wheat. White Wheat Sales...At last count nearly a month ago, USDA showed sales of U.S. soft white running 8% behind a year ago; down 12 mb at 143 mb. The buyers coming up short to last year at that point were primarily China and unknown, down 24 mb from last year. Making up some of that difference are Japan, Thailand and Nigeria which show a combined increase of nearly 12 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.