Portland Grain Review 01/05

January 5, 2018 Portland Price Trends 01-02-17 08-01-17 12-01-17 12-28-17 01-05-18 #1 SWW (bu) 4.53 5.20 5.22 5.26 5.25 White Club 4.65 5.30 5.27 5.26 5.25 DNS 14% 6.57 8.38 7.61 7.49 7.57 HRW 11.5% 4.99 5.65 5.72 5.61 5.71 #2 Corn (ton) 160.00 148.00 153.00 157.00 156.00 #2 Barley 115.00 125.00 125.00 128.00 135.00 Wheat...Early week trade on the west coast showed wheat prices moving higher against respective gains across the futures complex before breaking back on late-week weakness. Exporter bid structures show white wheat with a modest carry into April, while both hard red winter and hard red spring are posted flat through March. Weekly Sales...USDA showed that just two week after registering a new marketing year high, U.S. wheat sales posted a marketing year low over the past week. Sales came in at just 4.8 mb, putting year-to-date commitments at 715 mb; 7% behind a year ago and 2% below the five-year average pace at the end of December. Top seller was soft red winter with 2.8 mb, putting sales at 73 mb and 8% ahead of a year ago. Remaining classes of wheat each booked less than a million bushels last week. White wheat slaes stand 23% ahead of a year ago and 28% above average; hard red winter is 25% below a year ago but 11% ahead of average and hard red spring sales are 25% below a year ago and 7% below average. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.