Portland Grain Review 05/04

May 4, 2017 Portland Price Trends 05-01-16 08-01-16 04-01-17 04-27-17 05-04-17 #1 SWW (bu) 5.33 4.95 4.82 4.80 4.80 White Club 5.53 4.95 4.97 4.95 4.95 DNS 14% 6.21 6.03 6.66 6.78 6.72 HRW 11.5% 5.31 5.10 4.94 5.04 5.14 #2 Corn (ton) 167.00 158.00 160.00 158.00 157.00 #2 Barley 145.00 135.00 120.00 125.00 125.00 Wheat...The sell-off across the futures complex today was partially offset by firmer basis levels in white wheat, but west coast wheat bids closed well off the weekly highs with the setback. Exporter interest in nearby white wheat movement remains apparent, with logistical struggles over high river-water levels and slowed rail shipments hampering wheat shipments into Portland. Weekly Sales...USDA reported another good week of buying interest for old crop hard red winter last week, which accounted for nearly all of the 9.5 mb in sales. Year-to-date total U.S. wheat sales stand at 1.028 bln bushels, up 39% over a year ago and 9% above average. Sales for hard red winter set at 433 mb, more than double a year ago and 30% above average. Hard red spring booked 2.3 mb of old crop and soft white adjustments led to a net 1.2 mb reduction. New crop sales came in at 21 mb, putting the total commitments for next year at 90 mb, which compares to 108 mb being in the books for new crop a year ago. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.