Portland Grain Review 09/08

September 8, 2017 Portland Price Trends 09-01-16 01-01-17 08-01-17 09-01-17 09-08-17 #1 SWW (bu) 4.68 4.50 5.20 5.25 5.23 White Club 4.78 4.65 5.30 5.35 5.33 DNS 14% 5.96 6.57 8.36 7.56 7.80 HRW 11.5% 4.87 4.99 5.65 5.48 5.58 #2 Corn (ton) 156.00 160.00 148.00 150.00 147.00 #2 Barley 125.00 115.00 125.00 125.00 125.00 Wheat....Firming basis levels for both west coast hard red winter and red spring wheats moved those markets above week ago levels, while soft white settled the week at the bottom of a 10 cent trading range. Export interest is holding overall sales levels in line averages. Discounts for protein continue to soften on red wheats, reflective of a higher protein harvest, while demand and shortened crop prospects are holding basis firm for white wheat. Weekly Sales...USDA reported total U.S. wheat demand slipped from the prior week, coming in at 13.8 mb and 30% below the four-week average pace. Year-to-date total sales stand at 458 mb, which is tracking right on line with both last year and the five-year average. Top seller for the week was hard red winter with 6.6 mb, which at 171 mb stands 10% behind a year ago but 4% above average. Hard red spring booked 3.4 mb and at 123 mb is now 15% below a year ago but on track with average. White wheat garnered 2.8 mb for the week and sets nearly 50% above both last year and the five-year average with 123 mb in commitments. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.