Portland Grain Review 04/28

April 28, 2020 Portland Price Trends 04-01-19 08-01-19 03-01-20 04-21-20 04-28-20 #1 SWW (bu) 5.95 5.90 5.95 6.18 6.15 White Club 5.95 5.90 7.45 7.68 7.65 DNS 14% 6.68 5.98 6.93 6.88 6.83 HRW 11.5% 6.14 5.36 6.08 6.34 6.30 #2 Corn (ton) 172.00 170.00 173.00 148.00 145.00 #2 Barley 140.00 140.00 140.00 130.00 130.00 Wheat...West coast wheat markets saw strengthening basis levels for both soft white and hard red winter in early-week trade. The spot bid for white wheat was posted at 90 over Chicago July futures; the highest since late September last year. Hard red winter basis also firmed-up 15 cents to 145 over the July Kansas City futures. Crop Progress...Winter wheat conditions continue to slip across the Pacific Northwest, as crop ratings declined for the third straight week as dry weather impacts the crop. The three-state weighted index dropped 3% and is now on-par with average after starting the spring ratings 7% above average. Oregon saw the very poor to poor category jump 6% to 13% and Idaho good to excellent fell 4% to 66%, but Washington climbed by 4 points to 76% good to excellent. Shipments...Weekly export inpsections showed another relatively good week of export movement for U.S. wheat, coming in on par with the prior week at 18.4 mb. Year-to-date shipments now stand at 827 mb, which is 5% ahead of a year ago. Top shipper for the week was hard red spring at 7.2 mb, followed by hard red winter with 4.2 mb and white wheat at 1.8 mb. Thailand and South Korea were top destinations off the west coast. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.