Portland Grain Review 08/11

August 11, 2020 Portland Price Trends 08-01-19 01-01-20 07-01-20 08-04-20 08-11-20 #1 SWW (bu) 5.90 6.15 5.80 5.50 5.50 White Club 5.90 7.65 6.30 5.90 5.90 DNS 14% 5.98 7.21 6.57 6.17 6.09 HRW 11.5% 5.36 6.26 5.83 5.62 5.60 #2 Corn (ton) 170.00 172.00 162.00 147.00 147.00 #2 Barley 140.00 140.00 130.00 130.00 130.00 Wheat...West coast wheat markets remained mostly on par with the prior week, reflecting seasonal harvest pressure. Exporter bid structures show soft white and hard red winter posting only modest carries into deferred months, while hard red spring has a relatively sharp carry into October. Crop Progress...Hot and dry conditions have advanced wheat harvesting across the Pacific Northwest, with all states reporting good progress over the past week. Winter wheat harvest is reported 77% complete in Oregon, 55% in Washington and 35% in Idaho. Field reports suggest yields running above average with lower protein levels. Spring wheat harvest stands at 21% complete in Washington and 21% complete in Idaho. Shipments...Weekly export inspections showed a slower pace of loadings for wheat last week, coming in at 13.9 mb to put year-to-date shipments at 18.6 mb and slightly ahead of a year ago. Top shipper was hard red winter with 6.5 mb, followed by hard red spring at 3.5 mb and soft white with 1.6 mb. Top destinations off the west coast included Japan with 3.2 mb, China with 2.3 mb and the Philippines taking 2.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.