Portland Grain Review 08/06

August 6, 2019 Portland Price Trends 08-01-18 01-01-19 07-01-19 07-30-19 08-06-19 #1 SWW (bu) 6.05 6.15 6.00 6.10 5.90 White Club 6.05 6.15 6.00 6.10 5.90 DNS 14% 7.08 6.59 6.24 6.12 6.03 HRW 11.5% 6.89 6.39 5.59 5.53 5.37 #2 Corn (ton) 160.00 168.00 182.00 178.00 172.00 #2 Barley 140.00 140.00 140.00 140.00 140.00 Wheat...Harvest pressure is becoming more apparent across the PNW soft white wheat market, with nearby cash bids remaining flat and holding near the $5.90 mark. White wheat basis has seen a 20 cent swing over the past week while protein wheat basis levels held steady. Shipments...Weekly export inspections showed wheat loadings held about in-line with the prior week at 14.5 mb, putting total shipments at 155 mb and 25% ahead of a year ago. Hard red winter was the top shipper with 5.5 mb, followed by soft red winter with 3.8 mb and soft white at 3.5 mb. Top destinations off the west coast were South Korea and the Philippines. Crop Progress...Warm and dry weather advanced the winter wheat harvest across the PNW, but overall progress remains well behind the average pace. Idaho stands with 15% of the crop cut versus a 46% average, Oregon is at 52% complete versus 76%, while Washington sets 35% harvested compared to an average of 58%. Hot weather also nipped spring wheat conditions as the Idaho crop dropped a point to 93% of average and Washingtion also slipped 1% to 109% of average. The Montana spring wheat crop improved 3 points to 109%; up 10% from late June. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.