Portland Grain Review 10/26

October 26, 2017 Portland Price Trends 10-01-16 01-01-17 09-01-17 10-19-17 10-26-17 #1 SWW (bu) 4.65 4.50 5.26 5.39 5.37 White Club 4.85 4.65 5.36 5.43 5.42 DNS 14% 6.36 6.57 7.52 7.42 7.49 HRW 11.5% 5.05 4.99 5.49 5.39 5.75 #2 Corn (ton) 160.00 160.00 151.00 141.00 141.00 #2 Barley 120.00 115.00 120.00 125.00 125.00 Wheat...West coast white wheat markets traded a relatively narrow range this week, with basis holding relatively firm to keep bids near the $5.40 level. Carries remain modest with bids flat through October and November. Hard red winter bids removed some of the inverse from the front months and dark northern spring wheat is showing carries. Weekly Sales...USDA reported total wheat sales of 13.2 mb over the past week, which was about 2 mb below the four-week average. Year-to-date sales now stand at 557 mb, which is 6% below a year ago and 4% under the 5-year average pace. Top seller for the week was hard red spring with 5.4 mb, and that class now stands with 159 mb in commitments; 13% below a year ago but on par with average. Soft white wheat registered the second best week of demand for the marketing year with 4.6 mb and sets with 129 mb booked; 28% above a year ago and 35% better than average. Hard red winter reported in with 3.2 mb and with 205 mb sets 17% behind a year ago and 2% below average. Top Buyers...Japan topped a long list of buyers last week with 5 mb of mostly hard red spring wheat. The Philippines booked 2.3 mb, unknown took 2.2 mb, followed by Vietnam with 1 mb and Panama with 845,000 bushels. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.