Portland Grain Review 08/15

August 15, 2019 Portland Price Trends 08-01-18 01-01-19 07-01-19 08-08-19 08-15-19 #1 SWW (bu) 6.05 6.15 6.00 5.88 5.85 White Club 6.05 6.15 6.00 5.88 5.85 DNS 14% 7.08 6.59 6.24 6.02 5.84 HRW 11.5% 6.89 6.39 5.59 5.38 5.08 #2 Corn (ton) 160.00 168.00 182.00 173.00 167.00 #2 Barley 140.00 140.00 140.00 140.00 140.00 Wheat..West coast wheat markets saw the protein wheat markets take the brunt of a retreat across the futures complex this week, as basis levels strengthened for white wheat. Nearby soft white basis to Chicago firmed nearly 30 cents over the past week while protein wheats held unchanged. Weekly Sales...USDA reported another fairly good week of export demand for U.S. wheat, coming in near the four-week average at 17 mb to put year- to-date sales at 362 mb; 18% above a year ago but 3% below the five-year average pace. Top seller was hard red spring with 6.6 mb, putting sales at 97 mb and 2% ahead of a year ago but 15% below average. Sales of soft white wheat hit the 5 mb mark for the week and with 65 mb in commitments stands 22% behind a year ago and 15% below average. Hard red winter saw a softer week of demand, coming in just under 4 mb to put sales at 139 mb to put the current year tally 72% ahead of a year ago and 14% better than the five-year average pace. Top Buyers...Japan and South Korea registered as top U.S. wheat buyers for the week with each buying 3.9 mb. Sri Lanka bolstered sales of white wheat with 2.7 mb, followed by Vietnam with 2.1 mb and Italy at 1.5 mb. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.