Portland Grain Review 07/14

July 14, 2020 Portland Price Trends 07-01-19 08-01-19 06-01-20 07-07-20 07-14-20 #1 SWW (bu) 6.00 5.90 6.08 5.80 5.85 White Club 6.00 5.90 7.33 6.30 6.35 DNS 14% 6.24 5.98 6.81 6.53 6.38 HRW 11.5% 5.59 5.36 6.12 5.81 5.87 #2 Corn (ton) 182.00 170.00 154.00 157.00 154.00 #2 Barley 140.00 140.00 130.00 130.00 130.00 Wheat...Early-week trade in the west coast wheat markets showed basis levels on the defensive for both soft white and hard red spring. White wheat basis has weakened more than 30 cents from late June and hard red spring is down 15 cents. USDA did announce another donation tender for soft white wheat, with shipment in early August. Crop Progress...Winter wheat harvest officially got underway across the Pacific Northwest, with all three states starting on an average pace. Crop potential looks promising and weather has been near ideal for spring wheat development. Good to excellent ratings for Idaho are holding near 70% and Washington holds near an all time best of 85% for mid-July. Shipments...Weekly export inspections showed a solid uptick in wheat shipments over the past week, coming in at 22.9 mb to put loading for the year at 110 mb and in-line with a year ago. Hard red winter was the top shipper with 10.3 mb, followed by hard red sprign with 6.6 mb, soft red winter at 3.3 and soft white with 1.7 mb. Top destinations off the west coast were Japan, Taiwan and the Philippines. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.