Portland Grain Review 02/01

February 1, 2018 Portland Price Trends 02-01-17 08-01-17 01-01-18 01-25-18 02-01-18 #1 SWW (bu) 4.68 5.20 5.25 5.38 5.40 White Club 4.83 5.30 5.25 5.38 5.40 DNS 14% 6.89 8.38 7.52 7.40 7.36 HRW 11.5% 5.28 5.65 5.60 5.90 6.13 #2 Corn (ton) 169.00 148.00 157.00 160.00 162.00 #2 Barley 115.00 125.00 128.00 140.00 140.00 Wheat..West coast wheat markets retraced toward the higher end of the marketing year trading range this week, following a solid bounce across the futures complex. White wheat hit the $5.50 level for the first time since last July, and hard red winter cleared $6; also the best since mid- July. Marketing activity from the farm level was noted at the higher end of the bid range this week. Weekly Sales...USDA reported U.S. wheat sales slipped from the prior week, coming in at 10.6 mb to put year-to-date sales at 750 mb; down 11% from a year ago and 5% below the five-year average pace. Top seller once again was hard red winter with 8 mb, now standing with 304 mb sold which is 10% behind a year ago but 9% above average. Hard red spring garnered 2.7 mb for the week, standing at 196 mb sold which is 27% behind a year ago and 11% below average. White wheat netted a negative 1.7 mb and soft red winter booked 500,000 bushels. Notable on the list of buyers was a 1.1 mb booking of hard red spring and Japan and Mexico being at the top end of the buying list this week. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.