Portland Grain Review 08/02

August 2, 2018 Portland Price Trends 08-01-17 01-01-18 07-01-18 07-26-18 08-02-18 #1 SWW (bu) 5.20 5.32 6.00 5.95 6.15 White Club 5.30 5.32 6.00 5.95 6.15 DNS 14% 8.38 7.52 6.52 6.93 7.26 HRW 11.5% 5.65 5.60 5.86 6.60 7.13 #2 Corn (ton) 148.00 157.00 157.00 161.00 161.00 #2 Barley 125.00 128.00 150.00 140.00 140.00 Wheat...An explosive move across the wheat futures complex today was met defensively by west coast wheat basis levels, but flat prices moves showed soft white 20 cents higher than a week ago, hard red spring up 30 cents and hard red winter more than 50 cents higher. Soft white is also posting a carry of 20 cents from August to January. Weekly Sales...USDA reported another relatively good week of overseas buying interest for U.S. wheat, driven primarily by soft white and hard red spring. Overall sales came in at 14.1 mb, putting the year-to-date total at 264 mb; 28% behind a year ago and five-year average pace, also the lowest total for the end of July since 2009. Soft white registered the best sales of the marketing year at 5.9 mb, which puts year-to-date commitments at 5.9 mb; 21% behind a year ago but nearly 20% ahead of the average pace. Hard red spring booked 4.9 mb, standing at 85 mb in sales which is 11% behind a year ago and 15% behind average. Hard red winter demand continues to be the big laggard, with 2.7 mb in sales putting the year-to-date total at 65 mb; 49% behind last year and 46% below average. Top Buyers...Both Taiwan and the Philippines were the big buyers over the past week with 3.8 mb each. Indonesia and Sri Lanka showed a renewed interest in U.S white white, buying 2.6 mb and 2.2 mb respectively. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.