Portland Grain Review 01/11

January 11, 2018 Portland Price Trends 01-02-17 08-01-17 12-01-17 01-04-18 01-11-18 #1 SWW (bu) 4.53 5.20 5.22 5.30 5.35 White Club 4.65 5.30 5.27 5.30 5.35 DNS 14% 6.57 8.38 7.61 7.58 7.61 HRW 11.5% 4.99 5.65 5.72 5.75 5.74 #2 Corn (ton) 160.00 148.00 153.00 158.00 158.00 #2 Barley 115.00 125.00 125.00 135.00 135.00 Wheat...Firming basis levels pushed white wheat bids to the best levels since late October this week, as exporters are focused in generating some nearby farmer movement to cover prior sales. Bid structures for all three classes of wheat show flat markets through March. Weekly Sales...USDA reported yet another week of dismal demand for U.S. wheat, as total weekly sales posted consecutive marketing year low. Sales of 2.6 mb last puts year-to-date export sales at 718 mb, which stands 8% below a year ago and 3% below the five-year average pace. Hard red spring accounted for over half the total with 1.4 mb, followed by soft red winter, soft white and hard red winter; all below a million bushels. South Korea and Japan were top buyers for the week. Top Buyers..White wheat sales remain the shining star of the complex as year-to-date sales are running 22% ahead of last year and 27% ahead of the five-year pace. Top buyer year-to-date for soft white is the Philippines, followed by South Korea, Japan, Indonesia and China. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.