Portland Grain Review 03/12
12 Mar 2020
March 12, 2020 Portland Price Trends 03-01-19 08-01-19 02-01-20 03-05-20 03-12-20 #1 SWW (bu) 6.10 5.90 6.25 5.95 5.85 White Club 6.10 5.90 7.75 7.45 7.35 DNS 14% 6.68 5.98 7.08 6.92 6.80 HRW 11.5% 6.00 5.36 6.17 5.99 5.79 #2 Corn (ton) 180.00 170.00 175.00 177.00 172.00 #2 Barley 140.00 140.00 140.00 135.00 135.00 Wheat..West coast wheat markets were reflective of the futures complex through the week, as bids marked price levels 10 to 20 cents below a week ago. Firmer basis levels on spring wheat offset some of the decline and export bid structures indicate a need for nearby wheat movement to cover recent demand. Weekly Sales...USDA reported a relatively strong week of export demand for soft white and hard red winter over the past week. Overall sales came in just under the 4-week average at 16.6 mb, putting commitments at 868 mb, which is 3% ahead of a year ago and 6% above the five-year average pace of sales for early March. Top seller was hard red winter at 6.2 mb and with 322 mb sets 10% ahead of a year ago and 12% above average. Soft white saw 3.8 mb in new sales, putting the total at 175 mb and setting 6% behind a year ago but 9% above average. Hard red spring sales slumped to 1.2 mb and with 256 mb in commitments sets 9% ahead of a year ago and 3% above average. Top Buyers..South Korea registered as top buyer for the week with 5.3 mb, followed by the Philippines with 4.1 mb, Japan at 2.8 mb, Mexico with 1.6 mb and Nigeria at 1.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.