Portland Grain Review 09/28

September 28, 2017 Portland Price Trends 09-01-16 01-01-17 08-01-17 09-21-17 09-28-17 #1 SWW (bu) 4.68 4.50 5.20 5.36 5.46 White Club 4.78 4.65 5.30 5.41 5.51 DNS 14% 5.96 6.57 8.36 7.56 7.77 HRW 11.5% 4.87 4.99 5.65 5.63 5.93 #2 Corn (ton) 156.00 160.00 148.00 143.00 142.00 #2 Barley 125.00 115.00 125.00 125.00 125.00 Wheat...Basis levels remain firm across the west coast wheat complex, with a notable jump taking place for hard red winter bids which saw the spot basis strengthen 15 cents this week. White wheat bids also cleared the $5.50 level for the first time since late July. Weekly Sales...USDA showed a modest rebound in demand for U.S. wheat, as total sales of 16 mb came in 14% above the four-week average to place year-to-date sales at 497 mb; 4% below both a year ago and the five-year average for mid-September. Top seller was hard red winter with 6.4 mb to put sales at 186 mb and 15% behind a year ago. Hard red spring booked a total of 4.4 mb and stands 14% behind a year ago at 134 mb. White wheat registered 3.7 mb in new commitments and sets 36% ahead of a year ago at 118 mb for total sales. Top Buyers...The Philippines topped the list of buyers for U.S. wheat over the past week, securing 3.4 mb of mostly red spring and soft white. Both the Dominion Republic and Japan bought 2.2 mb, followed by Taiwan with 2 mb and Bangladesh buying 1.7 mb of hard red winter. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.