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March 26, 2019
Portland Price Trends
03-01-18 08-01-18 02-01-19 03-19-19 03-26-19
#1 SWW (bu) 5.78 6.05 6.52 5.95 5.95
White Club 5.78 6.05 6.52 5.95 5.95
DNS 14% 7.64 7.08 6.79 6.80 6.86
HRW 11.5% 6.83 6.89 6.59 6.11 6.23
#2 Corn (ton) 173.00 160.00 169.00 187.00 186.00
#2 Barley 150.00 140.00 140.00 140.00 140.00
Wheat...A continued recovery in wheat futures bolstered west coast
wheat bids in early-week trade, especially for hard red winter and hard
red spring wheat. Protein wheat basis levels have strengthened over the
past two weeks, while white wheat basis has turned defensive; standing
nearly 30 cents below recent highs.
Shipments...Weekly export inspections showed a good week of loadings
for hard red winter, putting the total for all wheat at 12.5 mb for the
week. Year-to-date shipments now stand at 692 mb and stand 3% behind a
year ago. Hard red winter accounted for two-thirds of the overall total
with 8.1 mb, followed by hard red spring with 2.3 mb. Soft white wheat
shipments came to a standstill with just 400,000 bushels shipped. Japan
and Taiwan were top destinations off the west coast with 1.8 mb each.
-Norm Ruhoff Contributing Analyst
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