Portland Grain Review 01/15



January 15, 2019

Portland Price Trends
01-01-18 08-01-18 12-01-18 01-08-19 01-15-19
#1 SWW (bu) 5.32 6.05 6.25 6.30 6.24
White Club 5.32 6.05 6.25 6.30 6.24
DNS 14% 7.52 7.08 6.91 6.77 6.68
HRW 11.5% 5.60 6.89 6.50 6.55 6.45
#2 Corn (ton) 157.00 160.00 166.00 168.00 169.00
#2 Barley 128.00 140.00 140.00 140.00 140.00

Wheat....White wheat remained the stalwart of the west coast grains
complex in early-week trade, with bids holding near the marketing year
high on support from recent demand. USDA completed a donation to Yemen
last week and will conduct another tender in the week ahead. Hard red
wheat basis is holding steady while exporters trimmed basis levels for
dark northern spring a nickel at the open today.
Shipments...Weekly export inspections showed a solid rebound in the
pace of U.S. wheat shipments last week, coming in more than double the
prior week at 20 mb. Year-to-date loadings now stand 11% behind a year
ago at 495 mb. Top shipper was hard red winter with 9.2 mb, followed by
hard red spring with 6.4 mb. Soft white moved a total of 2.7 mb off the
PNW ports. Top destinations off the west coast were Japan with 5.3 mb,
the Philippines with 4.4 mb and Guatemala with 1.8 mb.

-Norm Ruhoff Contributing Analyst

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