Portland Grain Review 07/18

July 18, 2019 Portland Price Trends 07-01-18 08-01-18 06-01-19 07-11-19 07-18-19 #1 SWW (bu) 6.00 6.05 6.20 6.15 6.10 White Club 6.00 6.05 6.20 6.15 6.10 DNS 14% 6.52 7.08 6.43 6.21 6.07 HRW 11.5% 5.86 6.89 6.22 5.75 5.56 #2 Corn (ton) 157.00 160.00 182.00 197.00 196.00 #2 Barley 150.00 140.00 140.00 140.00 140.00 Wheat...West coast white wheat basis firmed to the best levels since early June this week, offsetting all but a nickel of the declines posted in Chicago. Firmer basis levels were also seen for hard red winter which picked up 5 cents. Dark northern spring wheat basis remains well below average, setting 45 cents under the 10-year mid-July average of $1.25. Weekly Sales...USDA reported a modest improvement in US wheat export demand last week, coming in at 12.8 mb and right at the 4-week average. Year-to-date sales now stand 22% ahead of a year ago but 4% behind the average pace at 289 mb. Top seller for the week was hard red winter at 4.7 mb, putting sales at 116 mb which is 102% of a year ago and 24% on top of the 5-year average. Soft red winter booked 3.3 mb and with 41 mb in commitments sets 35% ahead of a year ago and slightly behind average. Hard red spring saw 2.7 mb in sales and soft white 1.4 mb, with both of those classes setting behind year-ago and average commitments. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.