Portland Grain Review 07/19

July 19, 2018 Portland Price Trends 07-01-17 08-01-17 06-01-18 07-12-18 07-19-18 #1 SWW (bu) 5.55 5.20 6.05 5.85 5.95 White Club 5.65 5.30 6.05 5.85 5.95 DNS 14% 9.31 8.38 7.49 6.40 6.39 HRW 11.5% 6.34 5.65 6.71 5.95 6.25 #2 Corn (ton) 157.00 148.00 178.00 157.00 157.00 #2 Barley 127.00 125.00 155.00 150.00 150.00 Wheat...West coast wheat market dynamics were reflective of impending harvest activity this week as nearby basis levels weakened, especially in hard red spring wheat where spot basis retreated 15 to 20 cents. Soft white basis remained relatively firm but also held under the recent highs as winter wheat harvest triggered some sales. USDA completed a tender on 2.4 mb of U.S. white wheat for donation to Yemen. Weekly Sales...USDA reported an improvement in export demand for U.S. wheat over the past week, coming in at 11 mb; nearly double last week but 25% below the four-week average. Total U.S. wheat sales year-to-date are at 236 mb, which is 27% behind both a year ago and the five-year average pace. Top seller was hard red spring with 4.7 mb, putting sales at 77 mb which is 11% behind a year ago and 14% behind average. Soft red winter saw 2.6 mb in sales, putting total sales at 30 mb; 10% behind a year ago and 55% below average. Soft white booked another 1.8 mb to put sales at 65 mb; 21% behind a year ago but 14% ahead of average. Hard red winter saw only 1.1 mb in new sales and with 57 mb stands 49% below a year ago and 44% off the five-year average pace. Top buyer last week was the Philippines with nearly 5 mb in purchases. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.