Portland Grain Review 06/22

June 22, 2017 Portland Price Trends 06-01-16 08-01-16 05-01-17 06-15-17 06-22-17 #1 SWW (bu) 5.35 4.95 4.87 5.00 5.05 White Club 5.35 4.95 5.02 5.10 5.15 DNS 14% 6.29 6.03 6.88 7.59 7.76 HRW 11.5% 5.41 5.10 5.36 5.58 5.60 #2 Corn (ton) 179.00 158.00 161.00 159.00 152.00 #2 Barley 145.00 135.00 125.00 127.00 127.00 Wheat...West coast wheat markets saw multi-year highs registered in hard red spring wheat this week, with white wheat also hitting a fresh annual high above $5. Grower selling was noted in white wheat markets, especially for new crop positions. Japan continued to book additional coverage, buying nearly 5 mb of wheat. Weekly Sales...USDA reported a rebound in U.S. wheat sales over the past week, coming in at nearly 20 mb to put total sales at 27 mb which stands 8% ahead of a year ago. Top seller for the week was red spring wheat with 6.9 mb, followed by hard red winter at 5.8 mb. White wheat also had a good week with 4.1 mb in demand. Top Buyers...Japan took top buying honors for the week, covering a total of 7.2 mb across all classes of wheat. Taiwan booked 3.5 mb and the Philippines secured nearly 3 mb. Rounding out the top five buyers were Algeria with 2.2 mb and Thailand with 1.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.