Portland Grain Review 07/09

July 9, 2020 Portland Price Trends 07-01-19 08-01-19 06-01-20 07-02-20 07-09-20 #1 SWW (bu) 6.00 5.90 6.08 5.75 5.95 White Club 6.00 5.90 7.33 6.25 6.45 DNS 14% 6.24 5.98 6.81 6.50 6.49 HRW 11.5% 5.59 5.36 6.12 5.74 5.94 #2 Corn (ton) 182.00 170.00 154.00 157.00 159.00 #2 Barley 140.00 140.00 130.00 130.00 130.00 Wheat...West coast wheat markets moved higher this week, but overall gains relative to the futures complex were muted somewhat by a defensive basis movement across all the markets. White wheat basis slipped by 20 cents from earlier in the week, hard red winter was a dime lower and red spring basis declined 15 cents. All three classes of wheat are now bid flat into September. Weekly Sales..USDA reported weekly wheat sales declined for the third straight week, coming in at 12 mb to put year-to-date commitments at 278 mb. This total stands 1% ahead of a year ago and right on track with the five-year average pace. Top seller was soft red winter with 5.5 mb and with 27 mb in sales sets 25% behind both last year and average. Hard red spring garnered 3.2 mb to put sales at 80 mb, which sets 3% below a year ago but 1% ahead of average. Hard red winter booked 3.2 mb and with 80 mb in commitments is 3% behind a year ago but 1% ahead of average. White wheat saw only 1 mb in sales and with 56 mb in the books sets 12% ahead of last year but 5% behind average. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.