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                                                       October 19, 2017
                                                                  
                                   Portland Price Trends
                 10-01-16    01-01-17    09-01-17    10-12-17    10-19-17
#1 SWW (bu)         4.65        4.50        5.26        5.35        5.39
White Club          4.85        4.65        5.36        5.40        5.43
DNS 14%             6.36        6.57        7.52        7.41        7.42
HRW 11.5%           5.05        4.99        5.49        5.71        5.39
#2 Corn (ton)     160.00      160.00      151.00      143.00      141.00
#2 Barley         120.00      115.00      120.00      125.00      125.00

   Wheat...Basis levels remained firm on all west coast wheats this week,
with needs for nearby deliveries apparent in hard red winter, where bids
reflect a strong inverse.  White wheat basis reached the 105 over level,
surpassing the 100 over mark for the first time since early August, and 
remains well above average on improved demand and tighter supplies being
supportive factors this year.
   Weekly Sales...USDA reported a solid rebound in demand for U.S. wheat
last week, with total sales registering the best level in two months with
22.6 mb.  Year-to-date total sales now stand at 544 mb which is 4% below
a year ago and 2% under the average pace.  Top seller was hard red spring
wheat, recording the best weekly sales of the marketing year with 9.2 mb.
Sales stand at 153 mb; 11% behind a year ago but 2% above average.  Hard
red winter registered 9 mb and with 202 mb, sets 17% behind a year ago but
1% ahead of average.  Soft white sales came in at 2 mb to put current year
totals at 125 mb; 31% ahead of a year ago and 39% above the average pace.
   Top Buyers...Mexico stepped-in as the big buyer last week, booking 6.6
mb of mostly hard red winter wheat. China was also a notable buyer with a
a 4.4 mb booking of hard red spring wheat.  Unknown accounted for 3.4 mb,
followed by Japan with 2.4 mb and Iraq with 1.8 mb.

                                       -Norm Ruhoff  Contributing Analyst

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