Portland Grain Review 09/07

September 7, 2018 Portland Price Trends 09-01-17 01-01-18 08-01-18 08-31-18 09-07-18 #1 SWW (bu) 5.26 5.32 6.05 6.05 5.90 White Club 5.36 5.32 6.05 6.05 5.90 DNS 14% 7.52 7.52 7.08 6.84 6.56 HRW 11.5% 5.49 5.60 6.81 6.53 6.17 #2 Corn (ton) 151.00 157.00 160.00 156.00 159.00 #2 Barley 120.00 128.00 140.00 140.00 140.00 Wheat...West coast wheat markets were generally reflective of the lower move in wheat futures this week, with white wheat also trending lower but firm basis levels offset some of the decline. Japan was in the market this week covering a portion of their October-November requirements. Weekly Sales...USDA reported US wheat sales were about on par with the prior week at 14 mb, coming in 14% below the four-week average and putting total sales year-to-date at 344 mb. This stand 23% behind a year ago and 24% below the five-year average pace. Top seller for the week was hard red winter with 4.6 mb and with 99 mb in commitments, stands 40% below a year ago and 37% below average. Hard red spring booked 4.3 mb and stands with 104 mb in sales; 13% below both a year ago and average. Soft white wheat registered 3.6 mb for the week and the 87 mb on the books thus far stands 19% below a year ago but 14% ahead of average. Top Buyers...South Korea was top buyer of US wheat for week, booking a total of 4.5 mb. The Philippines bought 4.2 mb, Mexico 2.8 mb, Thailand 1.8 mb and Malaysia rounded-out the top five with 1.4 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.