Market News

Grain News

Portland Grain Review 02/14

2/14/2019 - 11:18:00


                                                       February 14, 2019
                                                                  
                                   Portland Price Trends
                 02-01-18    08-01-18    01-01-19    02-07-19   02-14-19
#1 SWW (bu)         5.42        6.05        6.15        6.45       6.35
White Club          5.42        6.05        6.15        6.45       6.35
DNS 14%             7.41        7.08        6.59        6.74       6.74
HRW 11.5%           6.17        6.89        6.39        6.55       6.45
#2 Corn (ton)     161.00      160.00      168.00      167.00     165.00
#2 Barley         140.00      140.00      140.00      140.00     140.00

   Wheat...West coast wheat markets drifted with weakness across futures
this morning.  The recent move to the $6.50 mark for white wheat brought
out some farmer selling and exporters have since allowed basis to weaken
and move bids lower.  Protein wheat basis remains steady with cash bids
posted flat through May.
   Weekly Sales...USDA continues to catch-up on weekly export sales and
for the week of January 3, showed a meager week of export demand for U.S.
wheat.  Total sales were just 4.8 mb, which placed total sales at 658 mb
which stands 8% behind a year ago.  Soft white wheat was top seller that 
week with 1.9 mb and with 152 mb in commitments stands 4% behind a year
ago.  Soft red winter booked 1.5 mb to put sales at 84 mb, which stands
13% ahead of a year ago. Hard red winter saw 1 mb in new commitments and
with 205 mb in sales stands 28% under a year ago.  Hard red spring sold
just half a million bushels and sets 7% ahead of a year ago with a total
of 202 mb in commitments through early January.

                                      -Norm Ruhoff  Contributing Analyst

               Copyright  2019 DTN/Telvent.  All Rights Reserved.