Portland Grain Review 06/27
27 Jun 2019
June 27, 2019 Portland Price Trends 06-01-18 08-01-18 05-01-19 06-13-19 06-27-19 #1 SWW (bu) 6.05 6.05 5.67 6.15 6.17 White Club 6.05 6.05 5.67 6.15 6.17 DNS 14% 7.49 7.08 6.12 6.23 6.41 HRW 11.5% 6.71 6.89 5.70 5.87 5.96 #2 Corn (ton) 178.00 160.00 168.00 197.00 193.00 #2 Barley 155.00 140.00 140.00 140.00 140.00 Wheat...Markets saw a modest week-to-week recovery, with all classes closing higher relative to a week ago against stronger futures. Hard red winter markets also saw basis firm a nickel today, while both soft white and dark northern spring basis levels remain defensive. Weekly Sales...USDA reported a solid rebound in U.S. wheat sales over the past week, coming in at 22.5 mb to put the current year total at 255 mb; 25% ahead of a year ago and right on track with the five-year average. Top seller was hard red winter with 8.2 mb and with 104 mb in commitments sets 112% ahead of a year ago and 29% above average. Hard red spring saw 5.9 mb booked, putting sales at 62 mb which is 8% behind this time a year ago and 24% below average. Soft white registered 5.8 mb and with 44 mb in commitments is 24% behind a year ago and 17% under the average pace. Top Buyers...The Philippines took top buying honors for the week with 4.3 mb, followed by Guatemala with 3.2 mb, Jpan at 2.9 mb, El Salvador at 2.6 mb and Colombia with 2.4 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.