Portland Grain Review 10/03

October 3, 2017 Portland Price Trends 10-01-16 01-01-17 09-01-17 09-26-17 10-03-17 #1 SWW (bu) 4.65 4.50 5.26 5.47 5.40 White Club 4.85 4.65 5.36 5.52 5.45 DNS 14% 6.36 6.57 7.52 7.79 7.41 HRW 11.5% 5.05 4.99 5.49 5.79 5.80 #2 Corn (ton) 160.00 160.00 151.00 143.00 142.00 #2 Barley 120.00 115.00 120.00 125.00 125.00 Wheat...West coast white wheat markets saw a modest retreat in bids as the week got underway, but generally held near the $5.40 level for nearby delivery. Basis to Chicago December also remains firm near 90 cents over, holding about 50 cents above average for early October. Hard red winter basis also remains strong and at 140 over is nearly double the long-term average. At 130 over, nearby dark northern spring wheat basis is trading slightly under the ten-year average. Shipments...Weekly export inspections revealed a rebound in shipments of U.S. wheat over the past week, coming mainly on the shoulders of solid spring wheat movement. Total wheat shipments came in at 25.4 mb to place year-to-date loadings 2% behind a year ago at 364 mb. Hard red spring was top shipper, due in large part to China taking more than 4 mb, registering a weekly tally of 10.7 mb. Hard red winter moved a total of 7.1 mb, while white wheat had a big week with 6.2 mb. Top destinations off the PNW were China, the Philippines, Taiwan and Japan. Crop Progress...USDA reports winter wheat plantings continue to trail the average pace for Washington, reported at 6% behind the 5-year average at 63% planted. Idaho and Oregon are sowing the winter wheat crop slightly ahead of average, with respective plantings rates of 65% and 36%. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.