Portland Grain Review 08/27

August 27, 2015 Portland Price Trends 08-01-14 01-01-15 07-01-15 08-20-15 08-27-15 #1 SWW (bu) 6.92 6.97 6.60 5.80 5.65 White Club 8.17 9.47 7.35 6.55 6.40 DNS 14% 8.31 8.27 7.63 6.28 6.14 HRW 11.5% 7.63 7.31 6.67 5.86 5.84 #2 Corn (ton) 178.00 195.00 180.00 163.00 162.00 #2 Barley 175.00 170.00 150.00 160.00 160.00 Wheat...West coast wheat markets once again held to a relatively narrow trading range this week, sustained by limited farm offerings and a firming of basis levels that helped offset declines against futures. USDA revealed there has been some commercial interest over the past week, with demand up from the prior two weeks. Basis levels on white wheat against Chicago saw a move above 80 cents today, a two-month high; hard red spring climbed to 120 over Minneapolis, a two-month high; and hard red winter was posted 120 over Kansas City and the strongest basis in three months. Weekly Sales...USDA reported a revived interest in US wheat last week, with total sales near the 20 mb mark to put year-to-date totals 13% behind a year ago at 360 mb; 21% behind the five-year average for the third week of August. Hard red winter was the top seller with nearly 10 mb, supported primarily by Nigerian buying. Hard red spring recorded nearly 4 mb and is standing 14% behind a year ago, and white wheat booked 3.7 mb to stand 6% below last year; both classes saw interest primarily from the Pacific Rim. Soft red winter tallied 1.4 mb and sets 21% under a year ago. -Norm Ruhoff Contributing Analyst Copyright 2015 DTN/Telvent. All Rights Reserved.