Portland Grain Review 06/20

June 20, 2019 Portland Price Trends 06-01-18 08-01-18 05-01-19 06-13-19 06-20-19 #1 SWW (bu) 6.05 6.05 5.67 6.20 6.15 White Club 6.05 6.05 5.67 6.20 6.15 DNS 14% 7.49 7.08 6.12 6.46 6.23 HRW 11.5% 6.71 6.89 5.70 5.93 5.87 #2 Corn (ton) 178.00 160.00 168.00 190.00 197.00 #2 Barley 155.00 140.00 140.00 140.00 140.00 Wheat...A slowed pace of export demand was apparent last week and export bids are reflecting that through weaker basis levels. Both white wheat and hard red winter basis have weakened in recent weeks but remain well above average. In contrast to that, dark northern spring wheat basis is starting the new marketing year 50 cents under average, continuing the path followed through most of last year. Weekly Sales...The recent uptick in wheat prices tempereed export sales over the past week, coming in at only 6.9 mb to put year-to-date totals at 233 mb and 27% ahead of last year. Top seller was hard red spring with 3.9 mb and with 56 mb in commitments sets 8% behind a year ago. Soft red winter saw 2.1 mb booked, putting sales at 35 mb and 50% ahead of a year ago. Soft white wheat registered 1.7 mb to put new year sales at 39 mb and 28% behind a year ago. Hard red winter cancellations put net sales on the minus side for the week, but overall sales of 95 mb stand 131% ahead of a year ago. Top Buyers...Algeria was top buyer for the week with 2.2 mb, followed by Ymen with 2.1 mb, Japan with 1.4 mb, Mexico at 1.2 mb and Guatemala rounded out the top five with 1.1 mb. Hard red winter sales to Algeria and Nigeria are more than double a year ago. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.