Portland Grain Review 08/21

August 21, 2017 Portland Price Trends 08-01-16 01-01-17 07-01-17 08-14-17 08-21-17 #1 SWW (bu) 4.92 4.50 5.25 5.40 5.05 White Club 5.02 4.65 5.35 5.50 5.15 DNS 14% 5.99 6.57 6.57 7.90 7.75 HRW 11.5% 5.06 4.99 4.99 5.36 5.07 #2 Corn (ton) 159.00 160.00 160.00 151.00 145.00 #2 Barley 140.00 115.00 115.00 125.00 125.00 Wheat..West coast white wheat markets saw further drift in prices as relatively steady basis levels mirrored lower trade across the futures complex. Farmer selling interest has waned near the $5 coast mark, with most producers having priced into recent rallies. Shipments...Weekly export inspections showed a good week of loadings off U.S. ports for wheat, most notably white wheat moving off the west coast. Total shipments came in at 21.4 mb to put year-to-date movement at 258 mb, which stands 12% better than a year ago. Hard red winter was the top shipper with 9.7 mb, followed by white wheat with nearly 6 mb. Hard red spring and soft red winter each shipped about 3 mb. The top destination off the west coast was China with 4.3 mb, followed by the Philippines with 4.2 mb and Indonesia with 2.8 mb. Crop Progress...With winter wheat harvest virtually complete across the Pacific Northwest, USDA shows spring wheat cuttings approaching the halfway mark for Idaho; slightly behind average. Washington also shows the crop coming in 5% below the average pace at 62% complete. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.