Portland Grain Review 08/07

August 7, 2018 Portland Price Trends 08-01-17 01-01-18 07-01-18 07-31-18 08-06-18 #1 SWW (bu) 5.20 5.32 6.00 6.05 6.15 White Club 5.30 5.32 6.00 6.05 6.15 DNS 14% 8.38 7.52 6.52 7.05 7.18 HRW 11.5% 5.65 5.60 5.86 6.81 7.03 #2 Corn (ton) 148.00 157.00 157.00 163.00 161.00 #2 Barley 125.00 128.00 150.00 140.00 140.00 Wheat...West coast wheat markets showed good gains in hard red winter prices over the past week against higher futures and strengthening basis. Exporters also softened both discounts and premiums on protein scales for hard red winter and dark norhtern spring as harvest reveals good protein. White wheat basis remains defensive with a good yielding crop hitting the bins. Hot and dry weather continues to advance harvest progress. Crop Progress..Winter wheat harvest is reported more than 75% complete for Oregon, with both Idaho and Washington approaching the halfway point. Spring wheat ratings show the Idaho crop continuing to improve, rated at 101% of average, while Washington ratings have slipped a bit but remain rated at 117% of average. Shipments...Weekly export inspections showed a modest decline in the pace of U.S. wheat shipments, coming in at 12 mb to put the year-to-date total at 123 mb and 40% behind a year ago. Top shipper was spring wheat with 4.9 mb, followed by hard red winter at 3.9 mb and white wheat with 2.6 mb. The Philippines was top destinations off the west coast with 2 mb, followed by Guatemala with 1.8 mb and both Yemen and Thailand with 1.3 mb each for the week. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.