Portland Grain Review 08/01

August 1, 2019 Portland Price Trends 08-01-18 01-01-19 07-01-19 07-25-19 08-01-19 #1 SWW (bu) 6.05 6.15 6.00 6.15 5.90 White Club 6.05 6.15 6.00 6.15 5.90 DNS 14% 7.08 6.59 6.24 6.03 5.97 HRW 11.5% 6.89 6.39 5.59 5.57 5.36 #2 Corn (ton) 160.00 168.00 182.00 184.00 173.00 #2 Barley 140.00 140.00 140.00 140.00 140.00 Wheat...A continued retreat across the futures complex pulled wheat markets lower on the west coast this week. Increased harvest activity has also played a part, as the winter wheat crop moves toward storage facilities and PNW export channels. Evidence of a lower protein crop is also apparent as some exporters have begun stiffening discounts. Weekly Sales...USDA showed a setback in total U.S. wheat sales over the past week, coming in 10 mb below the prior week but near the 4-week average at 14.1 mb. Year-to-date commitments now stand at 327 mb which is 24% ahead of a year ago but 4% below the five-year average pace. Top seller was hard red winter with 5.7 mb to put sales at 131 mb, standing double that of a year ago and 19% above average. Hard red spring sales were at 3.5 mb and with 82 mb in bookings set 3% behind a year ago and 21% below average. Soft white saw 3.2 mb in new buying to put sales at 58 mb; 23% behind a year ago and 18% below average. Top Buyers...Brazil returned to the U.S. market last week and helped bolster hard red winter sales, booking 3.1 mb to place as top buyer for the week. The Philippines bought 2.6 mb, Japan 1.8 mb, Mexico with 1.3 mb and Taiwan rounded-out the top five with 1.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.