Portland Grain Review 06/11

June 11, 2019 Portland Price Trends 06-01-18 08-01-18 05-01-19 06-04-19 06-11-19 #1 SWW (bu) 6.05 6.05 5.67 6.15 6.15 White Club 6.05 6.05 5.67 6.15 6.15 DNS 14% 7.49 7.08 6.12 6.39 6.49 HRW 11.5% 6.71 6.89 5.70 6.06 5.82 #2 Corn (ton) 178.00 160.00 168.00 182.00 187.00 #2 Barley 155.00 140.00 140.00 140.00 140.00 Wheat...West coast white wheat and hard red winter markets held mostly steady to start the week. White wheat drew support from the recent USDA donation tender for Yemen and hard red winter moved higher with KC futures even with weakening basis levels. Updated USDA numbers place the year-end stocks-to-use ratio for white wheat at 19%, the lowest since 2013 and by far the tightest ratio for all classes of wheat. Crop Progress...USDA showed the Pacific Northwest winter wheat crop off a point from the prior week at 101% of average. Both Idaho and Washington saw modest declines in the good to excellent category; off 4 points to 67% and down 2 points to 71%, respectively. Oregon also dropped 2% to 61% and poor to very poor held at 18% for the state. Spring wheat ratings show the U.S. crop condition running 4% ahead of average. Washington is down from last year's exceptional crop, but holding 4% above average, while Idaho is seeing spring wheat conditions that are 10% below average. Shipments...Weekly export inspections showed total U.S. wheat shipments slipped from the prior week, down 22% at 17 mb. Hard red winter registered as top shipper with 10.1 mb, with hard red spring loading 2.8 mb and white wheat shipping 2.1 mb. Taiwan was the top destination off the west coast. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.