Portland Grain Review 06/16

June 16, 2020 Portland Price Trends 06-01-19 08-01-19 05-01-20 06-09-20 06-16-20 #1 SWW (bu) 6.20 5.90 6.06 5.90 5.90 White Club 6.20 5.90 7.56 7.15 6.90 DNS 14% 6.43 5.98 6.77 6.57 6.62 HRW 11.5% 6.22 5.36 6.33 5.96 5.86 #2 Corn (ton) 182.00 170.00 144.00 157.00 156.00 #2 Barley 140.00 140.00 130.00 130.00 130.00 Wheat..Basis levels strengthened across all west coast wheat markets in early week trade, with nearby white wheat supported by a 3 mb tender from CCC for Yemen. Good growing conditions have also softened the club wheat spread, as the premium to soft white narrowed another 25 cents. Crop Progress...Recent moisture is proving beneficial to the Pacific Northwest winter wheat crop, as the three state weighted-index improved for the third straight week. Good to excellent ratings for Idaho saw a 4% gain to 74%, Oregon was up 7% to 50% while Washington held at an 85% total. The overall index gained a point and now sits at 106% of average. Spring wheat ratings show the Washington crop at 113% of normal, second best of the past 20 years, while Idaho has improved from 91% to 99% of average over the past two weeks. Shipments...Weekly export inspections showed a big week of movement off west coast ports for white wheat, accounting for 6.4 mb of the 16.3 weekly total. Year-to-date U.S. wheat shipments now stand at 241 mb and 23% below a year ago. Both hard red spring and hard red winter showed 4.5 mb in loadings last week and the Philippines registered as the top destination off theh PNW with 4.8 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.