Portland Grain Review 08/09

August 9, 2018 Portland Price Trends 08-01-17 01-01-18 07-01-18 08-02-18 08-09-18 #1 SWW (bu) 5.20 5.32 6.00 6.15 6.22 White Club 5.30 5.32 6.00 6.15 6.27 DNS 14% 8.38 7.52 6.52 7.00 7.18 HRW 11.5% 5.65 5.60 5.86 6.84 6.92 #2 Corn (ton) 148.00 157.00 157.00 160.00 161.00 #2 Barley 125.00 128.00 150.00 140.00 145.00 Wheat...West coast wheat markets showed prices holding above week-ago levels, with firming basis levels noted primarily in the hard red winter wheat markets. Protein scales also adjusted with a higher protein harvest softening premiums and discounts. Exporters posted new highs for the soft white wheat market, as farmer selling has waned and premiums of a nickel were posted on club wheat to entice some movement. Weekly Sales...USDA showed that higher U.S. prices tempered demand for wheat last week, with overall sales coming in below the prior week but in- line with the four-week average. Sales for the week of 11.6 mb put total commitments at 276 mb, which is down 25% from a year ago and 29% below the five-year average pace. Top seller for the week was hard red spring wheat with 4.3 mb, putting year-to-date sales at 89 mb which is 8% behind a year ago and 14% below average. Soft white booked 2.7 mb and stands 20% behind a year ago but 18% ahead of average with 78 mb sold. Soft red winter sold 2.3 mb and hard red winter continues to lag about 50% behind a year ago and average with 67 mb in commitments. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.