Portland Grain Review 11/02

November 2, 2017 Portland Price Trends 11-01-16 01-01-17 10-01-17 10-26-17 11-02-17 #1 SWW (bu) 4.75 4.50 5.35 5.37 5.25 White Club 5.00 4.65 5.40 5.42 5.30 DNS 14% 6.34 6.57 7.41 7.49 7.54 HRW 11.5% 5.04 4.99 5.79 5.75 5.65 #2 Corn (ton) 145.00 160.00 141.00 141.00 143.00 #2 Barley 115.00 115.00 125.00 125.00 125.00 Wheat...Basis levels held steady for all classes of wheat on the west coast this week, with dark northern spring actually gaining a nickel for spot delivery. Exporter cash bids showed carries across the board with white wheat now posting 3 cents per month into April. Trading was termed light through the week with the general setback in price levels. Weekly Sales...USDA reported weekly sales came in about on par with a week ago and 15% below the four-week average at 12.8 mb. Total sales this year stand at 570 mb, which is 5% below late October last year and 3% off the five-year average pace. Top seller for the week was hard red winter, coming in with 6.2 mb to put year-to-date sales at 212 mb which stands 16% below a year ago and on par with average. Soft white garnered 3 mb to put current year sales at 132 mb which is more than 30% above a year ago and average. Hard red spring also booked 3 mb and with 162 mb in commitments stands 13% below a year ago but in-line with the five-year average pace. Top Buyers...South Korea topped the list of wheat buyers last week with 3.7 mb, followed by Mexico with 2.5 mb. The Philippines secured another 2 mb, with Nigeria taking 1.5 mb and Ecuador booking 1.2 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.