Portland Grain Review 11/21

November 21, 2019 Portland Price Trends 11-01-18 01-01-19 10-01-19 11-14-19 11-21-19 #1 SWW (bu) 6.22 6.15 5.90 5.98 5.90 White Club 6.22 6.15 5.90 7.83 7.75 DNS 14% 6.92 6.59 6.58 6.88 6.72 HRW 11.5% 6.51 6.39 5.61 5.92 5.94 #2 Corn (ton) 159.00 168.00 173.00 172.00 170.00 #2 Barley 140.00 140.00 150.00 135.00 135.00 Wheat...Mostly steady basis levels across protein wheat markets kept bids for those classes of wheat in-line with respective futures over the past week. Exporter bids reflect exporter interest in nearby ownership, as front month deliveries remain at a premium to deferred months. White wheat basis remains defensive against rallies in Chicago, maintaining a cash bid that has been within a dime of $6 through most of the fall. Weekly Sales...USDA reported a much-improved pace of export demand for U.S. wheat last week, coming in nearly double the prior week at 16.1 mb. Year-to-date commitments now set at 574 mb, setting is 8% ahead of a year ago but 3% below the five-year average pace. Hard red winter was primary seller last week with 8.9 mb, the second best weekly tally for the year. Sales for that class set 40% ahead of a year ago and 5% above average at 213 mb. Hard red spring sales of 3.6 mb put the total at 158 mb, which is 8% behind a year ago and 14% below average. Soft white registered 2.5 mb and with 110 mb in commitments sets 15% behind a year ago and 6% below the five-year pace. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.