Portland Grain Review 08/01

August 1, 2017 Portland Price Trends 08-01-16 01-01-17 07-01-17 07-25-17 08-01-17 #1 SWW (bu) 4.92 4.50 5.25 5.25 5.20 White Club 5.02 4.65 5.35 5.35 5.30 DNS 14% 5.99 6.57 6.57 8.42 8.36 HRW 11.5% 5.06 4.99 4.99 5.72 5.65 #2 Corn (ton) 159.00 160.00 160.00 150.00 148.00 #2 Barley 140.00 115.00 115.00 125.00 125.00 Wheat...West coast wheat markets drifted against lower futures in early week trade, though firming basis levels on white wheat softened some of the decline. Recent export demand has exporters propping-up bids to draw some bushels from the farm, which has seen selling interest diminish since the price setback. Shipments...Weekly export inspections showed another relatively strong week for wheat movement off U.S. ports, coming in above 21 mb to put year- to-date shipments at 184 mb and 15% above a year ago. Top shipper was hard red winter with 9.6 mb, followed by 5.1 mb for soft white. Red spring saw 4.8 mb shipped. Top destination off the west coast was Indonesia, taking a total of 4 mb, followed by the Philippines with 2.8 mb, South Korea with 1.9 mb and Japan with 1.7 mb for the week. Crop Progress...Open dry conditions have ramped up winter wheat harvest across the Pacific Northwest. USDA crop progress places Washington winter wheat harvest nearly a third complete, Oregon at 42% and Idaho 17%; which is slightly behind the average pace for all three states. Good quality and yields are being reported. Extreme heat and dry conditions are cutting in to spring wheat crop prospects, as Idaho ratings took a notable decline. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.