Portland Grain Review 04/21

April 21, 2020 Portland Price Trends 04-01-19 08-01-19 03-01-20 04-14-20 04-21-20 #1 SWW (bu) 5.95 5.90 5.95 6.15 6.18 White Club 5.95 5.90 7.45 7.65 7.68 DNS 14% 6.68 5.98 6.93 7.07 6.88 HRW 11.5% 6.14 5.36 6.08 6.30 6.34 #2 Corn (ton) 172.00 170.00 173.00 155.00 148.00 #2 Barley 140.00 140.00 140.00 130.00 130.00 Wheat...Early week trade in the west coast wheat markets saw a lot of movement in basis levels. Hard red winter was largely defensive as the week got underway as basis weakened 15 cents. Spot basis on hard red spring was also a nickel lower and white wheat softened but held above the 70 over mark for the first time in a month. Crop Progress...Recent dry weather is beginning to cut into winter wheat ratings for the Pacific Northwest, as the overall 3-state index slipped 2 points over the past week to 103% of normal. Idaho showed a 1% gain in good to excellent, but Oregon dropped 9% and Washington saw an 8% decline. Spring planting progress is well ahead of average with the open weather, as Idaho sets 9% ahead at 54% sown and Washington is nearly 30% ahead of average at 78% planted. 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.