Portland Grain Review 06/13

June 13, 2017 Portland Price Trends 06-01-16 08-01-16 05-01-17 06-06-17 06-13-17 #1 SWW (bu) 5.35 4.95 4.87 4.92 4.98 White Club 5.35 4.95 5.02 5.02 5.08 DNS 14% 6.29 6.03 6.88 7.11 7.44 HRW 11.5% 5.41 5.10 5.36 5.26 5.44 #2 Corn (ton) 179.00 158.00 161.00 159.00 155.00 #2 Barley 145.00 135.00 125.00 127.00 127.00 Wheat...West coast wheat basis levels remained defensive against gains across the futures complex in early week trade, as spreads on all three classes of wheat weakened. Bid structures generally remain flat into the next 90 days of delivery period. Crop Progress...Improved winter wheat conditions for both Oregon and Washington bumped the three-state weighted index a full two point over the past week to 107% of average. Good to excellent for Oregon increased by 4% to 82% and Washington gained 4% to 86%. Idaho dropped 3% out of that category and is now rated 72%. Spring wheat conditions remain the bigger story, as overall U.S. good to excellent ratings slipped 10 points over the past week to 45%, with 20% rated poor to very poor. Pacific Northwest conditions remain on par with a year ago; Idaho rated 73% good-excellent and Washington standing at 85%. Shipments...Weekly export inspections showed the best week of movement for U.S. wheat for the past marketing year, registering 28.4 mb for the week. Shipment totals for the new year stand at 31.6 mb and are running 38% ahead of a year ago. South Korea and Yemen were top destinations off the west coast with more than 4.5 mb each, followed by China with 1.8 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.