Portland Grain Review 04/30

April 30, 2020 Portland Price Trends 04-01-19 08-01-19 03-01-20 04-23-20 04-30-20 #1 SWW (bu) 5.95 5.90 5.95 6.15 6.06 White Club 5.95 5.90 7.45 7.65 7.56 DNS 14% 6.68 5.98 6.93 6.90 6.76 HRW 11.5% 6.14 5.36 6.08 6.24 6.23 #2 Corn (ton) 172.00 170.00 173.00 151.00 144.00 #2 Barley 140.00 140.00 140.00 130.00 130.00 Wheat..USDA confirmed an improved pace of export demand over the past week, as global bargain hunters took advantage of lower prices. Stronger exports have also been supportive of firming basis levels, as white wheat approached 100 over Chicago July this week and hard red winter saw basis strengthen 15 cents. Weekly Sales...USDA reported a solid rebound in export demand for U.S. old crop wheat, coming in 10 mb above the four-week average at 17.2 mb to put sales at 953 mb. Year-to-date commitments now stand 2% above a year ago and 8% above the five-year average pace. Top seller was hard winter wheat with 7 mb, putting sales at 361 mb which is 6% ahead of a year ago and 13% above average. Hard red spring registered 6.1 mb and with 279 in sales sets 9% ahead of a year ago and 6% better than average. Soft white booked 3.1 mb to put sales at 190 mb; 4% behind a year ago but 12% above the five-year pace. Top Buyers...Taiwan was the top buyer of U.S. wheat over the past week with 5.5 mb, followed by the Philippines and Brazil with 4 mb. Rounding- out the top five were Japan with 2.2 mb and Singapore with 1.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.