June 13, 2019
                                                                  
                                   Portland Price Trends
                 06-01-18    08-01-18    05-01-19    06-06-19   06-13-19
#1 SWW (bu)         6.05        6.05        5.67        6.18       6.20
White Club          6.05        6.05        5.67        6.18       6.20
DNS 14%             7.49        7.08        6.12        6.41       6.46
HRW 11.5%           6.71        6.89        5.70        5.88       5.93
#2 Corn (ton)     178.00      160.00      168.00      182.00     190.00
#2 Barley         155.00      140.00      140.00      140.00     140.00

   Wheat...The surge in Chicago futures was muted by a weakening basis on
west coast white wheat this week, but cash prices managed to post weekly
gains.  By comparison, a weaker hard red winter basis held nearby markets
to a modest gain and narrowed spreads between old and new crop bids. Dark
northern spring wheat markets also remained somewhat subdued as the spot
basis moved into the new marketing year nearly 25% below average. 
   Weekly Sales...USDA reported 12 mb in total U.S. wheat sales over the
past week, putting year-to-date commitments for the new marketing year at
226 mb, which is 36% ahead of last year. Top seller for the week was hard
red winter with 5.7 mb and with 96 mb in sales now stands 158% ahead of a
year ago.  White wheat garnered 2.5 mb, putting year-to-date sales at 37
mb and 24% behind a year ago.  Soft red winter booked 2.1 mb to put total
salesa t 32 mb and 47% ahead of a year ago.  Hard red spring sales of 1.5
mb placed export commitments 4% behind a year ago at 52 mb.
   
                                      -Norm Ruhoff  Contributing Analyst

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