Portland Grain Review 10/18
19 Oct 2019
October 18, 2019 Portland Price Trends 10-01-18 01-01-19 09-01-19 10-11-19 10-18-19 #1 SWW (bu) 6.15 6.15 5.70 6.08 6.10 White Club 6.15 6.15 5.70 6.58 6.85 DNS 14% 6.67 6.59 5.67 6.95 7.04 HRW 11.5% 6.36 6.39 5.20 5.58 5.89 #2 Corn (ton) 157.00 168.00 162.00 177.00 180.00 #2 Barley 140.00 140.00 140.00 150.00 150.00 Wheat...Firm basis levels and a higher futures complex moved protein wheat market higher on the west coast this week, while soft white wheat saw defensive basis levels against Chicago. Spot white wheat basis was 30 cents weaker from last Friday, but club wheat premiums continued to build; gaining 25 cents through the week. Weekly Sales...USDA showed a modest decline in overall wheat exports over the past week, coming in just above the four-week average at 14.5 mb. Year-to-date sales now stand at 508 mb which is 15% ahead of last year at this time and in-line with the five-year average pace. Hard red winter was top seller with 6 mb, putting sales 52% ahead of last year and 10% above average at 191 mb. Hard red spring booked 5.4 mb and at 139 mb, sets in-line with a year ago but 11% behind average. Sales for soft white were at 1.9 mb, putting current year sales at 97 mb which is 14% behind a year ago and 3% below average. Top Buyers..Mexico and Nigeria were the top buyers for the week with both near the 2.8 mb mark, while unknown registered 2 mb in purchases. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.