Portland Grain Review 04/14

April 14, 2020 Portland Price Trends 04-01-19 08-01-19 03-01-20 04-07-20 04-14-20 #1 SWW (bu) 5.95 5.90 5.95 6.12 6.15 White Club 5.95 5.90 7.45 7.62 7.65 DNS 14% 6.68 5.98 6.93 7.10 7.07 HRW 11.5% 6.14 5.36 6.08 6.30 6.30 #2 Corn (ton) 172.00 170.00 173.00 153.00 155.00 #2 Barley 140.00 140.00 140.00 130.00 130.00 Wheat...West coast wheat markets were a bit defensive in early-week trade, trailing lower with the futures complex. Spot basis levels for white wheat were posted a nickel lower than a week ago while hard red winter was down 20 cents. Dark northern spring wheat saw basis levels move a nickel higher, with all markets remaining relatively flat and at a premium to new crop bids. Crop Progress..PNW winter wheat ratings saw the three-state weighted index slip 2 points to 105% of normal. Ratings for both Washington and Oregon held near 80% good to excellent, but Idaho conditions saw a full 12% drop in that category. Cool, dry weather was not conducive to crop development over the past week. Shipments...Weekly export inspections showed a solid rebound in the pace of U.S. wheat shipments last week, coming in 70% above a week ago at 22 mb. Year-to-date export loadings now stand 8% better than a year aog at 788 mb. Top shipper was hard red spring with 8.1 mb. White wheat had a strong week of shipments, coming in at 5.6 mb, followed by an 4.4 mb tally for hard red winter. West coast ports shipped to a long list of destinations, but the Philippines was by far the big taker. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.