Portland Grain Review 12/17

December 17, 2019 Portland Price Trends 12-01-18 01-01-19 11-01-19 12-10-19 12-17-19 #1 SWW (bu) 6.25 6.15 6.00 5.90 6.07 White Club 6.25 6.15 7.50 7.65 7.77 DNS 14% 6.97 6.59 7.06 6.88 7.06 HRW 11.5% 6.56 6.39 5.96 5.91 6.21 #2 Corn (ton) 170.00 168.00 177.00 169.00 173.00 #2 Barley 140.00 140.00 135.00 140.00 140.00 Wheat...A surge across the wheat futures complex improved cash prices in early-week trade, but weaker spot basis levels for soft white and red muted a portionof the gains. Nearby white wheat basis to Chicago slipped to 54 over; near the low end of an 18-month trading range and just above the 10-year average for mid-December. Hard red winter basis pulled back a nickel but remains at double the 10-year average. Shipments...Weekly export inspections showed a solid rebound in U.S. wheat shipments last week, coming in near 19 mb to put the year-to-date total at 498 mb and 16% ahead of a year ago. Top shipper was hard red winter with 8 mb, followed by hard red spring at 4.5 mb and white wheat with 3.6 mb. Top destinations off the west coast included Japan with 2 mb and Taiwan and Thailand with 1.5 mb each. -Norm Ruhoff Contributing Analyst Copyright 2019 DTN/Telvent. All Rights Reserved.