Portland Grain Review 08/21

August 21, 2018 Portland Price Trends 08-01-17 01-01-18 07-01-18 08-14-18 08-21-18 #1 SWW (bu) 5.20 5.32 6.00 6.15 6.20 White Club 5.30 5.32 6.00 6.18 6.22 DNS 14% 8.38 7.52 6.52 6.79 6.79 HRW 11.5% 5.65 5.60 5.86 6.53 6.49 #2 Corn (ton) 148.00 157.00 157.00 157.00 156.00 #2 Barley 125.00 128.00 150.00 145.00 145.00 Wheat...West coast white wheat markets remain relatively steady, as the export trade is firming-up basis levels against declines in Chicago. Hard red winter and spring wheat basis levels are holding steady, with markets retreating against lower futures to levels on par with a week ago. Crop Progress...USDA reports winter wheat harvest is virtually complete in Oregon, with both Idaho and Washington approaching 90% complete and in- line with the average pace. Spring wheat harvest for Idaho and Washington are about halfway complete. Harvest reports on winter wheat show generally above-average yields, good quality and lower-than-average protein levels. Shipments...Weekly export inspections showed overall US wheat shipments declined from the prior week, coming in at 12.7 mb to put the year-to-date total at 155 mb and 37% behind a year ago. Top shipper by class for last week was hard red winter with 4.7 mb, followed by soft white wheat with 4 mb. Hard red spring registered 2.2 mb and soft red winter reported 1.7 mb. Top destinations off the west coast included Japan with 4.4 mb, Yemen with 2 mb and Chile at 1.7 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.