Portland Grain Review 09/13

September 13, 2018 Portland Price Trends 09-01-17 01-01-18 08-01-18 09-06-18 09-13-18 #1 SWW (bu) 5.26 5.32 6.05 5.93 5.85 White Club 5.36 5.32 6.05 5.93 5.85 DNS 14% 7.52 7.52 7.08 6.56 6.56 HRW 11.5% 5.49 5.60 6.81 6.16 6.16 #2 Corn (ton) 151.00 157.00 160.00 159.00 148.00 #2 Barley 120.00 128.00 140.00 140.00 140.00 Wheat...Firming basis levels for west coast white wheat helped to once again offset declines in Chicago futures, and basis levels for both hard red winter and spring wheat also saw modest strengthening. Overall trade remains light as farmers have little interest in pricing at current levels. Weekly Sales...USDA reported export demand for US wheat over the past week was about on-par with the prior week, coming in at 14.2 mb to place year-to-date sales at 358 mb; 22% behind a year ago and 24% below the 5- year average pace. Top seller for the week was hard red winter at 7.2 mb, putting sales at 106 mb which stands 38% behind a year ago and 36% below average. Hard red spring booked 3.4 mb and with 108 mb sold stands 13% under both a year ago and five-year average. Soft white registered 1.9 mb for the week and with 89 mb in commitments stands 19% below a year ago but 12% above average. Top Buyers...Taiwan claimed top buyer honors last week with 4.1 mb in new commitments, followed by Mexico with 1.3 mb. Coming in near the 1.1 mb mark were Italy, Nigeria, Venezuela, Chile, Uruguay and Algeria. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.