Portland Grain Review 02/07

February 7, 2019 Portland Price Trends 02-01-18 08-01-18 01-01-19 01-31-19 02-07-19 #1 SWW (bu) 5.42 6.05 6.15 6.52 6.45 White Club 5.42 6.05 6.15 6.52 6.45 DNS 14% 7.41 7.08 6.59 6.75 6.74 HRW 11.5% 6.17 6.89 6.39 6.49 6.55 #2 Corn (ton) 161.00 160.00 168.00 168.00 167.00 #2 Barley 140.00 140.00 140.00 140.00 140.00 Wheat...West coast wheat markets moved lower with the retreat in the futures complex this morning, with white wheat offsetting come of that decline with a firming basis. Basis levels on the protein wheats have been holding steady and actual cash bids show all markets are bid flat into May. Exporters continue to look for nearby farmer movement. Spreads...Historically strong basis for both west coast white wheat and hard red winter have tightened spreads to cash hard red springs bids; a market which is seeing weaker than average basis this year. Hard red winter has been hovering about 20 cents under dark northern spring while soft white is only 30 cents under. On average over the past five years, dark northern spring has traded at a $1.20 premium to hard red winter and a $1.80 premium to white wheat. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.