Portland Grain Review 11/03

November 3, 2020 Portland Price Trends 11-01-19 01-01-20 10-01-20 10-27-20 11-03-20 #1 SWW (bu) 6.00 6.15 5.70 6.20 6.05 White Club 7.50 7.65 6.05 6.55 6.40 DNS 14% 7.06 7.21 6.53 6.81 6.76 HRW 11.5% 5.96 6.26 6.46 6.84 6.92 #2 Corn (ton) 177.00 172.00 168.00 173.00 169.00 #2 Barley 135.00 140.00 130.00 130.00 135.00 Wheat...Early week trade on the west coast showed white wheat prices holding above the $6 mark on support from recent export demand. Nearby basis has also climbed back to near even money with Chicago; a gain of more than 30 cents from recent lows. Hard red winter bids remain strong, having hit the $7 level for the first time in more than two years. Shipments...Weekly export inspections showed a slowed pace of export shipments for U.S. wheat last week, coming in at 10.5 mb to place the year-to-date total at 418 mb and 4% ahead of a year ago. Top shipper was hard red winter with 3.9 mb, followed by hard red spring with 3.3 mb and soft white at 2.4 mb. South Korea and Japan were top destinations off the west coast. Crop Progress..PNW winter wheat conditions are starting off late fall slightly below year-ago levels. Idaho rates 62% good to excellent and is 2% ahead of a year ago; Oregon is 26% below a year ago with a 41% good to excellent and Washington set 9% behind this time last year at 58%. -Norm Ruhoff Contributing Analyst Copyright 2020 DTN/Telvent. All Rights Reserved.