Portland Grain Review 08/27
27 Aug 2020
August 27, 2020 Portland Price Trends 08-01-19 01-01-20 07-01-20 08-20-20 08-27-20 #1 SWW (bu) 5.90 6.15 5.80 5.45 5.25 White Club 5.90 7.65 6.30 5.85 5.55 DNS 14% 5.98 7.21 6.57 6.25 6.39 HRW 11.5% 5.36 6.26 5.83 5.78 6.03 #2 Corn (ton) 170.00 172.00 162.00 153.00 160.00 #2 Barley 140.00 140.00 130.00 130.00 130.00 Wheat...The price impact of a high-yielding white wheat crop remained apparent this week, as flat prices continued to drift on the west coast and basis moved sharply lower. Spot basis to Chicago actually went to a negative value this week, down more than 70 cents the past two weeks and the lowest in three years. Weekly Sales...USDA revealed a big week of export demand for US wheat, coming in at a marketing year high of 28 mb. This places the year-to-date commitments at 436 mb, which is 7% ahead of a year ago and 10% above the five-year average pace. Hard red winter was the big seller, registering a total of 17.8 mb to put sales at 165 mb which is 5% ahead of a year ago and 18% above average. Hard red spring garnered 5.4 mb in new business, and with 127 mb in sales sets 14% ahead of a year ago and 9% ahead of the average pace. Soft white booked 4.6 mb to put sales 22% ahead of a year ago and 9% above average at 87 mb. Top Buyers...Mexico was a big buyer of primarily hard red winter last week and took top buying honors with 4.9 mb. China also booked 4.5 mb of hard red winter, unknown bought 3.7 mb, Indonesia covered 3.1 mb and the Philippines rounded-out the top five with 1.9 mb for the week. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.