Portland Grain Review 09/26

September 26, 2019 Portland Price Trends 09-01-18 01-01-19 08-01-19 09-19-19 09-26-19 #1 SWW (bu) 6.05 6.15 5.90 5.92 5.92 White Club 6.05 6.15 5.90 5.92 5.92 DNS 14% 6.84 6.59 5.98 6.35 6.71 HRW 11.5% 6.53 6.39 5.36 5.54 5.59 #2 Corn (ton) 156.00 168.00 170.00 169.00 167.00 #2 Barley 140.00 140.00 140.00 150.00 150.00 Wheat...Firming basis levels continued to bolster bids for both hard red winter and spring wheat markets this week, with additional strength coming for gains in spread wheat futures. Hard red winter basis was up another nickel today, marking a 25 cent improvemnt the past two weeks. Hard red spring basis has seen a more dramatic climb, firming another 5 cents today and now up 45 cents over the last two weeks; reflective of worsening crop conditons across the northern tier states. Weekly Sales..USDA reported another less than steller week of export demand for U.S. wheat, coming in right at the prior week level of 10.4 mb. Overall sales now stand at 462 mb, which is 16% ahead of last year at this time and on track with the five-year average pace. Top seller was soft white wheat with 4.1 mb, placing sales-to-date at 84 mb which is 17% behind a year ago and 8% behind average. Hard red winter saw 3.8 mb in new commitments and with 175 mb in the books, sets 51% ahead of a year ago and 10% above the average pace. Japan was top buyer over the past week with 3.8 mb, followed by 2.3 mb for the Philippines. Mexico bought 2.2 mb and Egypt secured 1.8 mb of hard red spring wheat. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.