Portland Grain Review 05/11

May 11, 2017 Portland Price Trends 05-01-16 08-01-16 04-01-17 05-04-17 05-11-17 #1 SWW (bu) 5.33 4.95 4.82 4.80 4.88 White Club 5.53 4.95 4.97 4.95 5.03 DNS 14% 6.21 6.03 6.66 6.72 6.73 HRW 11.5% 5.31 5.10 4.94 5.14 5.10 #2 Corn (ton) 167.00 158.00 160.00 157.00 158.00 #2 Barley 145.00 135.00 120.00 125.00 125.00 Wheat..West coast wheat markets held to a relatively narrow range for most of the week, with strengthening basis levels for white wheat moving bids higher. Recent demand and slow farmer movement has exporters on the hunt for nearby white wheat movement into Portland. High water levels on the river system are also slowing barge movement. Weekly Sales...USDA showed a traditional late season rolling of wheat sales into new crop positions, with old crop demand at a negative number and a relatively modest increase for new crop. Sales for the coming year were at 10 mb, putting new crop commitments at 100 mb; which compares to 108 mb a year ago and a five-year average of 112 mb for the first week of May. Notable on the list of buyers was China; booking 2.3 mb of hard red spring for old crop and 2.2 mb of new crop white wheat. Indonesia booked 2.4 mb of old crop white wheat. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.