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                                                       April 18, 2019
                                                                  
                                   Portland Price Trends
                 04-01-18    08-01-18    03-01-19    04-11-19   04-18-19
#1 SWW (bu)         5.80        6.05        6.10        5.97       5.85
White Club          5.80        6.05        6.10        5.97       5.85
DNS 14%             7.03        7.08        6.68        6.49       6.41
HRW 11.5%           6.17        6.89        6.00        6.11       5.96
#2 Corn (ton)     175.00      160.00      180.00      170.00     167.00
#2 Barley         152.00      140.00      140.00      140.00     140.00

   Wheat...West coast wheat markets were reflective of the drift across
the futures complex this week, as all classes of wheat saw lower prices.
Basis levels did strengthen a dime for soft white relative to Chicago,
but both hard red winter and spring wheat basis held steady.
   Weekly Sales...USDA reported overall wheat export sales were slightly
better than the prior week at 11.5 mb, putting year-to-date commitments
at 915 mb; which is 8% ahead of a year ago and on par with the five-year
average pace.  Top seller was hard red winter with 8.7 mb, which places
total sales at 328 mb; 2% behind a year ago and 1% below average.  Hard
red spring garnered 2.2 mb for the week and with 253 mb in commitments,
sets 16% ahead of a year ago but 3% behind average. Soft white saw only
800,000 bushels in new sales but with 195 mb booked stands 4% above a
year ago and 20% ahead of average.
   Top Buyers..The top end of the buyer list last week favored the hard 
red winter ledger with Nigeria booking 2.9 mb, Unknown with 2.5 mb and
Algeria at 2.2 mb.  Japan booked 1.1 mb and Colombia rounded out upper
five with just under 1 mb.
                                   -Norm Ruhoff  Contributing Analyst

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