Portland Grain Review 04/16

April 16, 2020 Portland Price Trends 04-01-19 08-01-19 03-01-20 04-09-20 04-16-20 #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 7.14 6.95 HRW 11.5% 6.14 5.36 6.08 6.36 6.17 #2 Corn (ton) 172.00 170.00 173.00 154.00 154.00 #2 Barley 140.00 140.00 140.00 130.00 130.00 Wheat...Sharply higher basis levels for west coast white wheat helped hold that market in check week-to-week, while the protein wheats showed the impact of weaker futures. Soft white basis jumped nearly 30 cents over the past week as exporters see limited selling interest at current cash market bids. Weekly Sales...USDA reported a relatively solid week of export demand for U.S. wheat across old and new crop positions, coming in at 22 mb. Old crop sales of 6.6 mb put the year-to-date total at 927 mb, which sets 1% ahead of a year ago and 6% above the five-year average pace. Top seller was hard red winter with 6.6 mb, putting sales at 353 mb which stands 7% ahead of a year ago and 13% above average. Both hard red spring and soft white saw old crop cancellations with rolling to new crop. Year-to-date new crop sales for U.S. wheat have now moved about a year ago with 62 mb, driven primarily by increased hard red winter commitments. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.