Portland Grain Review 08/24

August 24, 2017 Portland Price Trends 08-01-16 01-01-17 07-01-17 08-17-17 08-24-17 #1 SWW (bu) 4.92 4.50 5.25 5.15 5.08 White Club 5.02 4.65 5.35 5.25 5.18 DNS 14% 5.99 6.57 6.57 7.97 7.83 HRW 11.5% 5.06 4.99 4.99 5.14 5.23 #2 Corn (ton) 159.00 160.00 160.00 148.00 145.00 #2 Barley 140.00 115.00 115.00 125.00 125.00 Wheat..West coast white wheat markets held mostly steady through the week, with basis levels adjusting to hold spot bids near $5.05. Exporter bid structures showed some carry starting to build back into the market after being flat through November over the past week. Protein wheats saw basis bids roll to the December contract this week. Weekly Sales...USDA reported a decline in demand for U.S. wheat over the past week, as sales came in about 40% below the prior week. With a total of 14.2 mb booked last week, year-to-date sales now stand on-par with a year ago at 424 mb. Top seller for the week was hard red spring wheat with 5.4 mb, followed by 4.7 mb for hard red winter. White wheat sales came in at 3.5 mb, to put the current year total at 105 mb which is nearly 50% ahead of a year ago. Top Buyers..Topping the list of buyers last week was Taiwan with 3.6 mb, followed by the Philippines with 2.6 mb and Thailand booking 2.1 mb. China bought 2 mb of mostly hard red spring wheat and Japan rounded-out the top five for the week with 1.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.