Portland Grain Review 05/20

May 20, 2021 Portland Price Trends 05-01-20 08-01-20 04-01-21 05-13-21 05-20-21 #1 SWW (bu) 6.06 5.60 6.70 8.30 8.30 White Club 7.56 6.00 6.70 8.30 8.30 DNS 14% 6.77 6.21 6.99 8.30 7.97 HRW 11.5% 6.33 5.71 6.85 7.68 7.45 #2 Corn (ton) 144.00 151.00 240.00 301.00 288.00 #2 Barley 130.00 130.00 180.00 180.00 180.00 Wheat..West coast white wheat remained the stalwart of wheat markets this week, as a tight balance sheet and marginal new crop prospects held the market in place. Crop ratings show the three-state index at the low end of historical ranges due an extremely dry spring. Some areas did see precipitation moving through ahead of the weekend. White wheat basis was also stronger, approaching 100 over Chicago futures for new crop. Weekly Sales...USDA reported a combined total of 16 mb in U.S. wheat export demand over the past week, with 4.4 mb in old crop sales and 11.6 mb of new crop. Total old crop sales now stand 3% behind a year ago but 3% ahead of the five-year average pace at 942 mb. New crop commitments of 131 mb set 40% ahead of a year ago. By class numbers show that soft red sales are more than double a year ago at 29 mb, hard red spring is up 77% at 36 mb and soft white wheat up 70% at 28 mb. Hard red winter sales have narrowed to within a million bushels of a year ago at 39 mb. The Philippines and Indonesia were the top buyers last week. -Norm Ruhoff Contributing Analyst Copyright 2021 DTN/Telvent. All Rights Reserved.