GRAIN NEWS

Portland Grain Review 09/17

9/19/2019 - 14:08:00


                                                       September 17, 2019
                                                                  
                                   Portland Price Trends
                 09-01-18    01-01-19    08-01-19    09-12-19   09-17-19
#1 SWW (bu)         6.05        6.15        5.90        5.80       5.90
White Club          6.05        6.15        5.90        5.80       5.90
DNS 14%             6.84        6.59        5.98        5.93       6.35
HRW 11.5%           6.53        6.39        5.36        5.26       5.54
#2 Corn (ton)     156.00      168.00      170.00      160.00     167.00
#2 Barley         140.00      140.00      140.00      140.00     150.00

   Wheat...West coast protein wheat markets posted a nice rebound through
the week, bolstered by strengthening basis levels and an improved futures
market.  Hard red winter basis has firmed 15 cents over the past week and
hard red spring saw a 30 cent improvement.  Recent heavy rains on what is
remaining of the spring harvest in Washington triggered some concerns over
possible sprout damage.
   Weekly Sales...USDA reported total wheat sales coming in about half of
the prior week and four-week average.  Export demand of 10.5 mb over the
past week puts year-to-date sales at 452 mb, which is 20% above this time
last year and 1% above the five-year average pace.  Topping the list for
last week was hard red winter with sales of 5.7 mb, placing sales at 171
mb; 57% ahead of a year ago and 13% above average. Hard red spring booked
1.7 mb and sets at 125 mb, 10% ahead of a year ago but 8% behind the five-
year average. Soft white and soft red winter both saw 1.2 mb for the week,
setting 17% behind and 23% ahead of last year, respectively.  Mexico was
top overall buyer with 5.4 mb in new commitments.

                                       -Norm Ruhoff  Contributing Analyst

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