Portland Grain Review 03/10

March 10, 2020 Portland Price Trends 03-01-19 08-01-19 02-01-20 03-03-20 03-10-20 #1 SWW (bu) 6.10 5.90 6.25 5.95 5.95 White Club 6.10 5.90 7.75 7.45 7.45 DNS 14% 6.68 5.98 7.08 6.97 6.94 HRW 11.5% 6.00 5.36 6.17 6.08 5.92 #2 Corn (ton) 180.00 170.00 175.00 170.00 172.00 #2 Barley 140.00 140.00 140.00 135.00 135.00 Wheat...West coast wheat markets were largely a reflection of movement across the futures complex in early-week trade, with both soft white and hard red spring benefitting from strengthening basis levels. Red spring wheat saw basis firm by a dime, placing nearby spreads to Minneapolis at 175 over and right at the 10-year average for March. Soft white basis to Chicago is also down from early-season strength but tracking the 10-year average of 75 over May futures. Shipments...Weekly export inspections showed total U.S. wheat loadings were pared back from the strong pace of the prior week, coming in at 15.2 mb to put year-to-date shipments at 706 mb. The current year paces stands 9% ahead of a year ago. The top shippper for the week was red spring wheat with 5.1 mb, followed by soft white with 4.7 mb and hard red winter at 4.4 mb. Top destinations off the west coast were South Korea with 3 mb, Japan at 2.6 mb and both Bangladesh and the Philippines at 2.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.