Portland Grain Review 02/02


                                                       February 2, 2017
                                                                  
                                   Portland Price Trends
                 02-01-16    08-01-16    01-02-17    01-26-17    02-02-17
#1 SWW (bu)         5.30        4.95        4.53        4.65        4.70
White Club          6.55        4.95        4.68        4.80        4.85
DNS 14%             6.20        6.03        6.58        6.93        6.94
HRW 11.5%           5.62        5.10        5.03        5.25        5.31
#2 Corn (ton)     162.00      158.00      159.00      171.00      172.00
#2 Barley         145.00      135.00      115.00      115.00      115.00

   Wheat...Gains across the futures complex brought a more positive tone
to west coast wheat markets this week, with all classes of wheat posting
gains.  Exporter bids show markets also remain flat, with no carries for
delivery into deferred months.  
   Weekly Sales...USDA reported another relatively strong week of demand
for U.S. wheat, coming in above the four-week average at 16.6 mb.  Total
sales for the year stand at 841 mb which is 36% ahead of a year ago and
7% above the five-year average.  Hard red winter was top seller for the 
week with 6.2 mb, putting current year commitments at 339 mb which sets
95% ahead of last year and 25% aove average.  Hard red spring registered
5.9 mb to place sales at 270 mb; 35% above a year ago and 31% over five-
year average numbers.  Soft white wheat booked 3.3 mb and stands at 145
mb in commitments for the year; 24% above last year and 2% above average.
   Top Buyers..The slate of buyers last week showed nearly 7 mb of total
new commitments went to Unknown, followed by Mexico with 2.8 mb.  Coming
in near the 1.8 mb were the Philippines and Taiwan, with Morocco next at
1.1 mb for the week.
                                     -Norm Ruhoff  Contributing Analyst

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