Portland Grain Review 11/14

November 14, 2017 Portland Price Trends 11-01-16 01-01-17 10-01-17 11-07-17 11-14-17 #1 SWW (bu) 4.75 4.50 5.35 5.28 5.28 White Club 5.00 4.65 5.40 5.33 5.33 DNS 14% 6.34 6.57 7.41 7.64 7.66 HRW 11.5% 5.04 4.99 5.79 5.71 5.73 #2 Corn (ton) 145.00 160.00 141.00 146.00 146.00 #2 Barley 115.00 115.00 125.00 125.00 125.00 Wheat..West coast wheat basis levels remained relatively steady as the week got underway, with white wheat basis adjusting to hold bids close to the $5.30 level. Japan is in the market this week, seeking a total of 4.6 mb that includes 1.5 mb of white wheat and 1 mb hard red winter from the U.S. market. Shipments...Weekly export inspections showed wheat movement held about on par with the prior week, at 11 mb. Year-to-date shipments now stand at 431 mb and 5% behind a year ago. Top shipper was hard red winter with 6.9 mb, followed by hard red spring and soft white with 1.6 mb each. The top destination off the west coast was Indonesia with 2.7 mb. Japan took on a total of 1.3 mb and Taiwan 845,000 bushels. Crop Progress...USDA shows the Pacific Northwest winter wheat crop off to a relatively slow start compared to last year, as an extremely dry fall weighs on conditions. Idaho rates 56% good to excellent, down 4 point from last week and 18% below a year ago. Washington rates 82% good to excellent, down 3% from last week and 11% below a year ago. Oregon shows the crop at 78% good to excellent, up 1% from last week and 13% above a year ago. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.