Portland Grain Review 10/19

October 19, 2017 Portland Price Trends 10-01-16 01-01-17 09-01-17 10-12-17 10-19-17 #1 SWW (bu) 4.65 4.50 5.26 5.35 5.39 White Club 4.85 4.65 5.36 5.40 5.43 DNS 14% 6.36 6.57 7.52 7.41 7.42 HRW 11.5% 5.05 4.99 5.49 5.71 5.39 #2 Corn (ton) 160.00 160.00 151.00 143.00 141.00 #2 Barley 120.00 115.00 120.00 125.00 125.00 Wheat...Basis levels remained firm on all west coast wheats this week, with needs for nearby deliveries apparent in hard red winter, where bids reflect a strong inverse. White wheat basis reached the 105 over level, surpassing the 100 over mark for the first time since early August, and remains well above average on improved demand and tighter supplies being supportive factors this year. Weekly Sales...USDA reported a solid rebound in demand for U.S. wheat last week, with total sales registering the best level in two months with 22.6 mb. Year-to-date total sales now stand at 544 mb which is 4% below a year ago and 2% under the average pace. Top seller was hard red spring wheat, recording the best weekly sales of the marketing year with 9.2 mb. Sales stand at 153 mb; 11% behind a year ago but 2% above average. Hard red winter registered 9 mb and with 202 mb, sets 17% behind a year ago but 1% ahead of average. Soft white sales came in at 2 mb to put current year totals at 125 mb; 31% ahead of a year ago and 39% above the average pace. Top Buyers...Mexico stepped-in as the big buyer last week, booking 6.6 mb of mostly hard red winter wheat. China was also a notable buyer with a a 4.4 mb booking of hard red spring wheat. Unknown accounted for 3.4 mb, followed by Japan with 2.4 mb and Iraq with 1.8 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.