Portland Grain Review 03/31

March 31, 2020 Portland Price Trends 03-01-19 08-01-19 02-01-20 03-24-20 03-24-20 #1 SWW (bu) 6.10 5.90 6.25 6.10 6.15 White Club 6.10 5.90 7.75 7.60 7.65 DNS 14% 6.68 5.98 7.08 7.15 7.19 HRW 11.5% 6.00 5.36 6.17 6.46 6.48 #2 Corn (ton) 180.00 170.00 175.00 157.00 157.00 #2 Barley 140.00 140.00 140.00 135.00 130.00 Wheat..Defensive basis levels held west coast white wheat bids mostly in check as the week got underway, while firm basis and a higher futures market held spring wheat bids firm. Hard red winter 11.5% protein bids also held near the top end of the price range for the marketing year. Acreage...Wheat planting intentions across the three state PNW region show total wheat plantings down less than 1% at 4.165 mln acres. Idaho plantings are expected to be up, mostly on higher spring acreage, while total acreage in Washington is expected to be down 2% due to less winter wheat acres. USDA also reported sharp reductions in U.S. pulse acreage. Shipments...Weekly export inspections showed total U.S. wheat loadings were on par with that prior week at 13.3 mb, putting year-to-date totals at 752 mb and 9% ahead of a year ago. Hard red winter stole the show with shipments of 8.5 mb. Hard red spring moved 1.3 mb for the week and soft white less than a million bushels. Indonesia was the primary destination off the west coast, taking over 3 mb of wheat. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.