Portland Grain Review 05/03
3 May 2018
May 3, 2018 Portland Price Trends 05-01-17 08-01-17 04-01-18 04-26-18 05-03-18 #1 SWW (bu) 4.87 5.20 5.80 5.90 6.00 White Club 5.02 5.30 5.80 5.90 6.00 DNS 14% 6.88 8.38 7.03 7.43 7.69 HRW 11.5% 5.36 5.65 6.17 6.49 6.89 #2 Corn (ton) 161.00 148.00 175.00 181.00 182.00 #2 Barley 125.00 125.00 152.00 152.00 158.00 Wheat...West coast white wheat markets saw bids hold at or above $6.00 this week, even with a roll to Chicago July futures and sharply lower spot basis levels. Exporters continue to work on enticing farm selling against prior sales. Bids for both hard red winter and red spring wheat also show mostly flat bid structures through July. New crop August bids today place white wheat at $5.85, 14% protein dark northern spring at $7.50 and 11.5% protein hard red winter at $6.76. Weekly Sales...USDA reported a total of 8.6 mb in old crop wheat sales over the past week, putting the year-to-date total at 863 mb; which is 16% behind a year ago and 9% below the five-year average pace. Top seller for the week was hard red winter with 4 mb, placing sales at 340 mb which sets 21% behind a year ago and 1% below average. Soft white registered 2.1 mb and with 194 mb in commitments, stands 11% ahead of a a year ago and 22% above average. Soft red winter also booked 2.1 mb and with total sales of 92 mb sets 4% ahead of a year ago. Total new crop sales came in at 7.7 mb, putting commitments for next year at 69 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.