Portland Grain Review 01/19

January 19, 2018 Portland Price Trends 01-02-17 08-01-17 12-01-17 01-12-18 01-19-18 #1 SWW (bu) 4.53 5.20 5.22 5.22 5.32 White Club 4.65 5.30 5.27 5.22 5.32 DNS 14% 6.57 8.38 7.61 7.43 7.39 HRW 11.5% 4.99 5.65 5.72 5.61 5.81 #2 Corn (ton) 160.00 148.00 153.00 157.00 160.00 #2 Barley 115.00 125.00 125.00 135.00 140.00 Wheat...Firming basis levels were evident across the west coast wheat markets this week, most notably for hard red winter and soft white. Spot basis on hard red winter bids jumped 15 to 20 cents higher, posted at 155 over KC March as exporters work to cover prior sales. White wheat basis also strengthened through the week, which ties the marketing year high of plus 110 that was also posted in early August. Japan booked 3.3 mb this week, which included about 900,000 bushels of wheat from the U.S. market. Weekly Sales..USDA reported improvement in U.S. wheat demand last week, with overall totals impacted by a 5 mb reduction from unknown. Total sales were a net 5.6 mb. Year-to-date sales are now setting at 724 mb; 9% below a year ago at this time and 5% behind the five-year average pace. The top seller was hard red winter with 2.8 mb. Hard red spring booked 2 mb and soft white netted less than a million bushels. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.