Portland Grain Review 10/05

October 5, 2017 Portland Price Trends 10-01-16 01-01-17 09-01-17 09-28-17 10-05-17 #1 SWW (bu) 4.65 4.50 5.26 5.46 5.40 White Club 4.85 4.65 5.36 5.51 5.45 DNS 14% 6.36 6.57 7.52 7.77 7.45 HRW 11.5% 5.05 4.99 5.49 5.93 5.75 #2 Corn (ton) 160.00 160.00 151.00 142.00 143.00 #2 Barley 120.00 115.00 120.00 125.00 125.00 Wheat..A continued pace of improved demand is holding soft white basis levels firm, near 100 over Chicago December futures, and cash bids within a dime of recent highs near the $5.40 level. Carries also developed this week, posted at 4 cents per month into March 2018. Hard red winter basis is also strong at 140 over, with bids at a premium for nearby delivery. Weekly Sales...USDA reported an improved pace of demand for U.S. wheat over the past week, coming in at 18.1 mb and the best weekly tally since late August. Year-to-date sales now stand at 515 mb, which sets 3% below both a year ago and the five-year average. Overall sales were bolstered by hard red spring, recording the second best week of demand for the year at 7 mb. Commitments now stand at 141 mb which is 13% below a year ago and 1% off the five-year pace. Hard red winter secured 6.5 mb and is now 14% behind a year ago and 1% behind average at 141 mb. Soft white showed another relatively good week with 3.2 mb, putting current year demand at 121 mb; 36% ahead of last year and 43% above average. Top Buyers..Leading a long list of buyers was the Philippines with 3.2 mb, followed by 2.5 mb of mostly hard red spring buying from China. Japan booked 2.3 mb, Taiwain 1.2 and United Arab Emirates bought 1.1 mb of soft white wheat. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.