Portland Grain Review 07/21

July 21, 2020 Portland Price Trends 07-01-19 08-01-19 06-01-20 07-14-20 07-21-20 #1 SWW (bu) 6.00 5.90 6.08 5.85 5.75 White Club 6.00 5.90 7.33 6.35 6.25 DNS 14% 6.24 5.98 6.81 6.38 6.26 HRW 11.5% 5.59 5.36 6.12 5.87 5.78 #2 Corn (ton) 182.00 170.00 154.00 154.00 153.00 #2 Barley 140.00 140.00 130.00 130.00 130.00 Wheat...West coast white wheat basis levels are reflective of harvest pressure, drifting back below the 50 over mark to Chicago futures. Hard red spring basis has also been defensive, dropping a dime for last week. Tradings remains relatively light with producers focused on harvest. Crop Progress..Extreme heat is helping advance winter wheat harvest across the Pacific Northwest, with progress tracking behind the average pace for Washington and Oregon. Idaho shows 6% cut versus 7% average, while Washington is 5% in versus 16% and Oregon at 14% compared to an average of 26%. Yields are thus far termed above average with proteins coming in below average. Shipments...Weekly export inspections showed a relatively good week for U.S. wheat shipments, coming in at 18.3 mb to put the year-to-date total slightly ahead of a year ago at 131 mb. Hard red winter was the top shipper at 9.1 mb, followed by soft white with 5.4 mb and hard red spring at 2.5 mb. Top destination off the west coast was Yemen with 2.6 mb, followed by China at 2.5 mb and South Korea with 2.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.