Portland Grain Review 07/13

July 13, 2017 Portland Price Trends 07-01-16 08-01-16 06-01-17 07-06-17 07-13-17 #1 SWW (bu) 5.05 4.95 4.90 5.55 5.45 White Club 5.05 4.95 5.05 5.65 5.55 DNS 14% 6.00 6.03 6.68 9.00 8.69 HRW 11.5% 4.82 5.10 4.97 6.40 6.05 #2 Corn (ton) 163.00 158.00 157.00 157.00 160.00 #2 Barley 140.00 135.00 127.00 120.00 120.00 Wheat...Additional fall-out from the crop report pulled all markets to the downside again today, but firming basis levels in white wheat helped soften some of the decline. Rallies over the past week triggered farmer selling across all classes of wheat in new crop positions. Export Sales...Stronger U.S. wheat prices tempered global buying last week, especially for hard red spring wheat. Total sales of 13.1 mb puts the year-to-date total at 321 mb and on par with a year ago. Standing out against the crowd is white wheat demand, which secured another 5 mb last week to put current year sales nearly 50% ahead of last year with 82 mb. Hard red winter wheat was top seller for the week with 5.4 mb, which puts sales at 112 mb and 7% behind a year ago. Top Buyers...Japan was top buyer for the week with 4.1 mb, followed by the Philippines with 2.2 mb. Rounding-out the top five were Malaysia with 2 mb, Nigeria with 1.8 mb and Mexico at 1.1 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.