Portland Grain Review 03/28

March 28, 2019 Portland Price Trends 03-01-18 08-01-18 02-01-19 03-21-19 03-28-19 #1 SWW (bu) 5.78 6.05 6.52 5.95 5.92 White Club 5.78 6.05 6.52 5.95 5.92 DNS 14% 7.64 7.08 6.79 6.86 6.76 HRW 11.5% 6.83 6.89 6.59 6.22 6.13 #2 Corn (ton) 173.00 160.00 169.00 186.00 173.00 #2 Barley 150.00 140.00 140.00 140.00 140.00 Wheat..West coast wheat prices tailed lower with futures today after a modest run higher over the past two weeks. White wheat basis did see some strengthening today against a lower Chicago market, while hard red winter basis held firm at 175 over KC and hard red spring was posted at 115 over Minneapolis. All markets show the nearby old crop bids remain at a premium to new crop months. Weekly Sales...USDA reported a rebound in total U.S. wheat sales for the past week, coming in above the four-week average at 17.5 mb. Total commitments now stand at 868 mb which is 4% ahead of a year ago and 3% below the five-year average. Top seller was hard red winter, recording the third-best week of sales for the marketing year. Sales came in more than double the prior week at 10.3 mb, which puts commitments at 308 mb; 6% behind a year ago and 4% below average. Soft white booked 3.3 mb and with 190 mb in sales stands on par with a year ago, but is now 19% above average. Hard red spring registered another 3.1 mb, placing the year-to- date total 10% ahead of a year ago at 240 mb. Top Buyers...Mexico claimed top buying honors last week with 5.6 mb, followed by Japan with 2.7 mb and Indonesia at 2.5 mb. The Philippines bought 1.8 mb and Uganda rounded-out the top five with 1.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.