Portland Grain Review 02/15

February 15, 2018 Portland Price Trends 02-01-17 08-01-17 01-01-18 02-08-18 02-15-18 #1 SWW (bu) 4.68 5.20 5.25 5.47 5.53 White Club 4.83 5.30 5.25 5.47 5.53 DNS 14% 6.89 8.38 7.52 7.42 7.34 HRW 11.5% 5.28 5.65 5.60 6.27 6.29 #2 Corn (ton) 169.00 148.00 157.00 161.00 166.00 #2 Barley 115.00 125.00 128.00 140.00 140.00 Wheat...West coast white wheat markets marked the highest price levels since mid-summer this week, bolstered by a the higher Chicago market. Red wheat markets saw hard red winter cash bids go to an inverse, with nearby bids at a premium to to April, while hard red spring showed a carry. Weekly Sales...USDA reported total U.S. wheat export demand of 11.4 mb over the past week, right in-line with the four-week average. Year-to-date sales now stand at 776 mb, which is 12% behind a year ago and 6% under the five-year average pace. Top seller was hard red winter with 4.8 mb, which places sales at 313 mb; 12% behind a year ago but 8% above average. Hard red spring booked 4 mb to put sales at 203 mb; 27% behind this time a year ago and 12% below average. Soft white saw less than a million bushels in new demand, leaving current year sales at 168 mb; 9% ahead of a year ago, 19% ahead of average. Top Buyers...Japan topped the list of buyers last week, committing to another 3.1 mb, followed by Indonesia with 3 mb, Taiwan at 2.8 mb, Mexico with 2.2 mb and China at 1.2 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.