August 22, 2019
                                                                  
                                   Portland Price Trends
                 08-01-18    01-01-19    07-01-19    08-15-19   08-22-19
#1 SWW (bu)         6.05        6.15        6.00        5.85       5.75
White Club          6.05        6.15        6.00        5.85       5.75
DNS 14%             7.08        6.59        6.24        5.84       5.80
HRW 11.5%           6.89        6.39        5.59        5.08       5.23
#2 Corn (ton)     160.00      168.00      182.00      167.00     163.00
#2 Barley         140.00      140.00      140.00      140.00     140.00

   Wheat..West coast wheat markets saw further drift this week against a
weaker futures complex.  Lower prices did improve export demand over the
past week and hard red winter has seen basis strengthen 15 cents in spot
delivery months over the past week.
   Weekly Sales...USDA reported an improved pace of export demand for U.S.
wheat last week, coming in 20% above the four-week average to put overall
sales at 383 mb; 22% ahead of a year ago but 1% behind the 5-year average
pace. Top seller was hard red winter with 8.9 mb, putting sales at 148 mb,
which is 64% ahead of a year ago and 14% ahead of average.  Red spring saw
6.8 mb in new business to put sales at 103 mb, standing 7% ahead of a year
ago but 12% behind average. Soft white garnered 2.4 mb and with 67 mb sets
17% behind a year ago and 14% below average.
   Top Buyers...Mexico registered as top buyer for the week with 4.2 mb in
purchases, followed by Guatemala and Thailand with 2.2 mb each.  Rounding
out the top five were Peru with 1.9 mb and Taiwan with 1.7 mb.

                                      -Norm Ruhoff  Contributing Analyst

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