Portland Grain Review 06/29

June 29, 2017 Portland Price Trends 06-01-16 08-01-16 05-01-17 06-22-17 06-29-17 #1 SWW (bu) 5.35 4.95 4.87 5.05 5.25 White Club 5.35 4.95 5.02 5.15 5.35 DNS 14% 6.29 6.03 6.88 7.76 8.54 HRW 11.5% 5.41 5.10 5.36 5.60 5.74 #2 Corn (ton) 179.00 158.00 161.00 152.00 150.00 #2 Barley 145.00 135.00 125.00 127.00 127.00 Wheat...West coast markets tracked along well with the surge across the futures complex this week, driven primarily by hot weather impacting spring wheat across the northern tier. As a result, both white wheat marked their best price levels in a year, and hard red spring the best since April 2015. Grower pricing in new crop positions was notable. Export Sales...USDA reported a tremendous week of demand for U.S. soft white wheat, coming in at 7 mb and accounting for more than a third of the overall total. Year-to-date commitments for soft white now stand at 73 mb and 40% ahead of a year ago. Total sales came in at 18 mb and U.S. demand stands 5% ahead of a year ago at 294 mb. Hard red winter talled 5.6 mb on the week, soft red winter 2.9 mb and hard red spring 2.6 mb. Top Buyers...Mexico registered as the top buyer last week with 5.8 mb, followed by Indonesia with 4.9 mb of white wheat, the Philippines with 3.6 mb and Japan wiht 2.6 mb. China rounded out the top five, booking 2.4 mb of white wheat. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.