Portland Grain Review 05/30

May 30, 2017 Portland Price Trends 05-01-16 08-01-16 04-01-17 05-23-17 05-30-17 #1 SWW (bu) 5.33 4.95 4.82 4.90 4.90 White Club 5.53 4.95 4.97 5.05 5.05 DNS 14% 6.21 6.03 6.66 6.80 6.93 HRW 11.5% 5.31 5.10 4.94 5.01 5.13 #2 Corn (ton) 167.00 158.00 160.00 160.00 157.00 #2 Barley 145.00 135.00 120.00 125.00 127.00 Wheat...Firm basis levels held west coast wheat markets intact coming out of the extended weekend, as white wheat basis to Chicago remained at the top end of its range and hard red winter basis strengthened a nickel. Bid structures show white wheat flat into August delivery; red spring at a premium to new crop and hard red winter posting a carry between July and August. Shipments...Weekly export inspections revealed another solid week for U.S. wheat loadings, coming in at 22 mb to put the year-to-date total at 993 mb and 35% ahead of last year. Hard red spring wheat was top shipper with 7.5 mb, followed by hard red winter with 6.9 mb and soft white wheat shipping 4.5 mb. Top destinations off the west coast were Japan with 3.8 mb and China taking 2.9 mb. Crop Progress...A dramatic improvement in winter wheat conditions for Idaho contributed to a 2 point increase in the three-state index, which now stands at 107% of average. Good to excellent ratings for Idaho were up 14% from the prior week to 80%; Oregon improved 4% to 92%; Washington also gained 2% to 83%. Spring wheat plantings showed Idaho putting in 9% more of the crop to stand at 87% complete, and Washington put in another 5% to finish up spring wheat sowings. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.