Portland Grain Review 03/05

March 5, 2020 Portland Price Trends 03-01-19 08-01-19 02-01-20 02-26-20 03-05-20 #1 SWW (bu) 6.10 5.90 6.25 6.15 5.95 White Club 6.10 5.90 7.75 7.65 7.45 DNS 14% 6.68 5.98 7.08 6.95 6.92 HRW 11.5% 6.00 5.36 6.17 6.09 5.99 #2 Corn (ton) 180.00 170.00 175.00 172.00 177.00 #2 Barley 140.00 140.00 140.00 140.00 135.00 Wheat...West coast wheat markets trended lower week-to-week, following the retreat across the futures complex. Basis levels remained steady and export bid structures show no carry being posted in protein wheats for the next 90 day delivery periods. Weekly Sales...USDA reported a rebound in U.S. wheat export demand the past week, coming in 26% above the four-week average at 19.9 mb. This puts year-to-date commitments at 852 mb; 3% ahead of a year ago and 5% ahead of average. Top seller was hard red winter with 5.8 mb, which moved current year sales to 316 mb; 10% ahead of a year ago and 11% above average. White wheat booked 4.1 mb and with 171 mb in sales sets 7% bheind last year but 8% above the five-year average pace. Hard red spring sales of 2.9 mb puts commitments 4% ahead of a year aog but 1% behind average at 235 mb. Top Buyers...Taiwan was the top U.S. wheat buyer last week with 3.8 mb, followed by South Korea at 3.2 mb and both Indonesia and Mexico at 2.8 mb. The Philippines rounded-out the top five with 2.5 mb for the week. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.