Portland Grain Review 06/09

June 9, 2020 Portland Price Trends 06-01-19 08-01-19 05-01-20 06-02-20 06-09-20 #1 SWW (bu) 6.20 5.90 6.06 6.05 5.90 White Club 6.20 5.90 7.56 7.30 7.15 DNS 14% 6.43 5.98 6.77 6.79 6.57 HRW 11.5% 6.22 5.36 6.33 6.06 5.96 #2 Corn (ton) 182.00 170.00 144.00 130.00 130.00 #2 Barley 140.00 140.00 130.00 154.00 157.00 Wheat...West coast wheat markets were on the defensive in early week trade, with basis levels weakening against declines across the futures complex. Declines were most pronounced in spring wheat, where the spot basis declined 25 cents from last week, while hard red winter dropped a dime and soft white basis held about 20 cents below recent highs. Crop Progress...Recent rainfall was reflected in improved ratings for Pacific Northwest wheat crops over the past week. Winter wheat ratings showed good to excellent ratings for Washington up 3% to 88%, Idaho was up 5% to 70% and Oregon gained 1% to 43%. The three-state winter wheat index climbed 2% and sets at 105% of average. Spring wheat ratings for Idaho also took a dramatic jump, up 23% to 74% good to excellent, while the Washington crop improved 3% to 84%. Shipments...Weekly export inspections showed overall wheat shipments declined from the prior week to 15.9 mb, which places loadings for the new marketing year at 6.2 mb and about a third of the prior year. Top destinations off the PNW included China, the Phillipines, Guatemala and Indonesia. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.