Portland Grain Review 01/31

January 31, 2019 Portland Price Trends 01-01-18 08-01-18 12-01-18 01-24-19 01-31-19 #1 SWW (bu) 5.32 6.05 6.25 6.42 6.52 White Club 5.32 6.05 6.25 6.42 6.52 DNS 14% 7.52 7.08 6.91 6.81 6.74 HRW 11.5% 5.60 6.89 6.50 6.61 6.49 #2 Corn (ton) 157.00 160.00 166.00 168.00 168.00 #2 Barley 128.00 140.00 140.00 140.00 140.00 Wheat...West coast wheat markets saw white wheat prices surge this week, as strengthening basis levels moved prices above $6.50; highest since June 2015. Recent donation business and ongoing buying from the Pacific Rim have been supportive. Hard red winter basis also firmed a nickel, while dark northern spring basis held steady. Weekly Sales...USDA resumed reporting export sales, releasing export demand for U.S. as of December 20. For that week, total sales came in at 19.3 mb, up 75% from the prior week. Year-to-date totals were at 632 mb, which is 11% behind a year ago. Top seller for that week was hard red winter with 8.6 mb, putting sales 33% below the prior year. Sales of hard red spring came in at nearly 6 mb, placing total sales 6% above a year ago at 187 mb. Soft white garnered 2 mb and sets 8% behind last year at 145 mb. Soft red winter also saw another 2.3 mb booked, setting 6% ahead of a year ago at 81 mb. Top three buyers for the week included Egypt with 6.2 mb, Japan with 5 mb and Unknown with 4.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.