Portland Grain Review 06/20

June 20, 2017 Portland Price Trends 06-01-16 08-01-16 05-01-17 06-13-17 06-20-17 #1 SWW (bu) 5.35 4.95 4.87 4.98 5.08 White Club 5.35 4.95 5.02 5.08 5.18 DNS 14% 6.29 6.03 6.88 7.44 7.74 HRW 11.5% 5.41 5.10 5.36 5.44 5.67 #2 Corn (ton) 179.00 158.00 161.00 155.00 158.00 #2 Barley 145.00 135.00 125.00 127.00 127.00 Wheat...West coast white wheat markets posted a fresh high water mark in early week trade as bids generally tagged along with gains in Chicago. Spring wheat bids led the charge, climbing to the best levels since April 2015. Exporter bid structures for new crop show a 20 cent carry for soft white betweeen August and January; hard red winter shows a 25 cent carry, while hard red spring is mostly flat into deferred months. Crop Progress...Warmer and drier conditions nipped winter wheat ratings across the Pacific Northwest over the past week, as the three-state index slipped a point to 106% of average. Good to excellent combined for Idaho dropped 3% to 69%, but excellent increased 6% and fair was up 3%. Oregon slipped 6% to 76% good to excellent and Washington was off 4% to 82%. PNW spring wheat conditions also trailed lower with Idaho good to excellent down 11% and Washington 8% lower. Shipments...Weekly export inspections showed a big week of movement for U.S. wheat, with total loadings of 27 mb pushing the year-to-date total to 60 mband 36% ahead of a year ago. Top shipper was hard red spring at 10.7 mb, followed by hard red winter with 9.5 mb. Soft white also had a large week with 6.1 mb in shipments. Top destinations off the west coast showed China taking 4.4 mb, the Philipppines 4.1 mb and Japan 2.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.