Portland Grain Review 03/24

March 24, 2020 Portland Price Trends 03-01-19 08-01-19 02-01-20 03-17-20 03-24-20 #1 SWW (bu) 6.10 5.90 6.25 5.80 6.05 White Club 6.10 5.90 7.75 7.30 7.55 DNS 14% 6.68 5.98 7.08 6.91 7.07 HRW 11.5% 6.00 5.36 6.17 5.81 6.39 #2 Corn (ton) 180.00 170.00 175.00 160.00 155.00 #2 Barley 140.00 140.00 140.00 135.00 135.00 Wheat...A surge across the wheat futures complex provided a welcome boost to west coast wheat markets in early-week trade, moving hard red winter bids to a marketing year high. Hard red spring moved to within a dime of the highs for the year, while defensive basis levels in soft white muted cash price advances. Open weather conditions have advanced spring fieldwork across the Pacific Northwest. Shipments...Weekly export inspections showed a marked slow-down for U.S. wheat shipments last week, coming in at 12.8 mb and 25% under the prior week. Year-to-date loadings stand at 738 mb which is running 9% ahead of a year ago. Top shipper for the week was hard red winter with 6.1 mb, followed by hard red spring with 4.1 mb. White wheat loadings tapered back to 1.9 mb. Top destinations off the west coast included Indonesia and Taiwan, each taking 1.9 mb, followed by Malaysia and the Philippines taking 1.5 mb each. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.