Portland Grain Review 09/03

September 3, 2019 Portland Price Trends 09-01-18 01-01-19 08-01-19 08-27-19 09-03-19 #1 SWW (bu) 6.05 6.15 5.90 5.75 5.65 White Club 6.05 6.15 5.90 5.75 5.65 DNS 14% 6.84 6.59 5.98 5.75 5.57 HRW 11.5% 6.53 6.39 5.36 5.26 5.07 #2 Corn (ton) 156.00 168.00 170.00 160.00 158.00 #2 Barley 140.00 140.00 140.00 140.00 140.00 Wheat...The seasonal harvest drift in wheat prices was more apparent coming out of the long weekend, as west coast wheat prices slipped lower with the futures complex. Soft white is challenging lows from May 2019, hard red winter is trading near August 2017 levels and red spring is now breaking toward levels not seen since the 2006. Shipments...Weekly export inspections showed a modest improvement for U.S. wheat loadings over the past week, coming in at 19.3 mb to put total shipments at 241 mb and 25% ahead of a year ago. Top shipper was hard red winter with 6.9 mb, followed by hard red spring at 4.9 mb and white wheat with 4 mb. Top destination off the west coast was the Philippines at 5.3 mb, with Guatemala taking 1.8 mb and Taiwan with 1.7 mb. Crop Progress...Spring wheat harvest advanced after a brief rain delay last week. Idaho is now reporting cuttings at 69% complete compared to a 77% average, while Washington sets at 61% versus a 90% average. Montana is running 30% behind the five-year average at 46% complete. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.