Portland Grain Review 09/12

September 12, 2019 Portland Price Trends 09-01-18 01-01-19 08-01-19 09-05-19 09-12-19 #1 SWW (bu) 6.05 6.15 5.90 5.75 5.80 White Club 6.05 6.15 5.90 5.75 5.80 DNS 14% 6.84 6.59 5.98 5.72 5.93 HRW 11.5% 6.53 6.39 5.36 5.19 5.26 #2 Corn (ton) 156.00 168.00 170.00 158.00 160.00 #2 Barley 140.00 140.00 140.00 140.00 140.00 Wheat...West coast wheat markets saw the protein wheats recover some ground on firmer basis levels, while white wheat held mostly in a nickel trading range this week. Basis on hard red spring improved 15 cents from last week and hard red winter basis was up a nickel. Crop Report...USDA left the overalll U.S. wheat balance sheet largely unchanged, modifying export projections within each class of wheat. Hard red winter saw exports dropped 10 mb, which was offset by 5 mb increases for both soft red winter and hard red spring. Soft white export numbers were unchanged from last month. Weekly Sales...Export demand improved again last week, coming in near the top end of the weekly range this year at 22.4 mb. Year-to-date sales now stand at 441 mb, which is 23% ahead of a year ago and 3% ahead of the five-year average pace. Top seller was hard red winter with 7 mb and at 165 mb, sales-to-date are 55% ahead of a year ago and 13% above average. Hard red spring garnered 6.9 mb to put sales at 123 mb, which is 15% over a year ago but 5% behind average. Soft white saw the best weekly total of the marketing year at 5.9 mb, placing sales at 79 mb; 12% behind a year ago and 7% below the average pace. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.