Portland Grain Review 01/26

January 26, 2018 Portland Price Trends 01-02-17 08-01-17 12-01-17 01-19-18 01-26-18 #1 SWW (bu) 4.53 5.20 5.22 5.32 5.40 White Club 4.65 5.30 5.27 5.32 5.40 DNS 14% 6.57 8.38 7.61 7.39 7.43 HRW 11.5% 4.99 5.65 5.72 5.81 5.95 #2 Corn (ton) 160.00 148.00 153.00 160.00 162.00 #2 Barley 115.00 125.00 125.00 135.00 140.00 Wheat...It was a thumbs-up week across the west coast wheat complex as prices trended higher with gains in the respective futures. White wheat markets hit the high end of a three-month trading range, supported by the acknowledgement of additional demand over the past week. Hard red winter basis remains extremely strong, with gains over the last week putting the spot basis at 155 over and more than double the ten-year average for this time of year. Weekly Sales...USDA reported a much-needed rebound in U.S. wheat sales over the past week, coming in at the best levels since late Decebmer with 15.7 mb. This puts year-to-date demand at 739 mb; 10% behind a year ago and 5% below the five-year average pace. Top seller was hard red winter with 7.3 mb, putting that class at 296 mb; 11% behind a year ago but 8% above average. White wheat also has a strong showing with 5 mb, putting sales at 164 mb; 16% above last year and 23% above average. Spring wheat posted 2.2 mb in new demand and soft red winter 1.2 mb. Unknown was top buyer with 7.4 mb, followed by Mexico at 1.9 mb and Japan with 1.6 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.