Portland Grain Review 12/14

December 14, 2017 Portland Price Trends 12-01-16 01-01-17 11-01-17 12-07-17 12-14-17 #1 SWW (bu) 4.55 4.50 5.23 5.17 5.18 White Club 4.70 4.65 5.28 5.22 5.23 DNS 14% 6.53 6.57 7.49 7.43 7.45 HRW 11.5% 4.88 4.99 5.60 5.55 5.53 #2 Corn (ton) 148.00 160.00 145.00 152.00 153.00 #2 Barley 115.00 115.00 125.00 125.00 125.00 Wheat...West coast wheat markets caught a modest late week rebound as futures markets opened higher today. Basis levels moved higher on white wheat this week and held mostly steady on the protein wheats. Japan was in the market this week, covering a portion of their January and February requirements. Weekly Sales...USDA reported a solid rebound in U.S. wheat sales over the past week, coming in at the best level in over a month. Sales of 21.6 mb puts year-to-date commitments at 664 mb, which stands 9% below a year ago and 4% below the five-year average pace. Top seller for the week was hard red winter with 9.4 mb, putting total sales at 263 mb; 10% behind a year ago but 8% above average. Hard red spring registered the second best total of the year with 7.7 mb, and with 181 mb in sales stands 23% under a year ago and 5% below average. White wheat garnered 3.1 mb, setting at 148 mb in commitments which is 19% above a year ago and 25% ahead better that the average pace. Top Buyers...Thailand was on top on a long list of wheat buyers last week with 3.5 mb, followed by Morocco with 3.3 mb, Mexico with 3 mb, and Unknown with 2.4 mb. Taiwan rounded out the top five with 2.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2017 DTN/Telvent. All Rights Reserved.