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                                                       June 27, 2017
                                                                  
                                   Portland Price Trends
                 06-01-16    08-01-16    05-01-17    06-20-17    06-27-17
#1 SWW (bu)         5.35        4.95        4.87        5.08        5.10
White Club          5.35        4.95        5.02        5.18        5.20
DNS 14%             6.29        6.03        6.88        7.74        8.01
HRW 11.5%           5.41        5.10        5.36        5.67        5.50
#2 Corn (ton)     179.00      158.00      161.00      158.00      156.00
#2 Barley         145.00      135.00      125.00      127.00      127.00

   Wheat...West coast wheat markets generally tagged along with gains in
the futures complex in early week trade, as hard red spring wheat pierced
the $8 mark.  Basis levels on white wheat and hard red winter were mostly
steady, pushing white wheat back to the $5.10 mark.  Pricing interest at
the farm level was noted in new crop positions, as January bids on white
wheat moved to the $5.30 mark.
   Crop Progress...Warm and dry conditions proved favorable for the winter
wheat crop across the Pacific Northwest last week.  The three-state index
climbed a point to 107% of average.  Idaho was the big gainer, as ratings
in the good to excellent category improved 9% to 78%.  Oregon also posted
a 5% jump to 81% with Washington up a point to 83%.  Spring wheat ratings
took a hit, however, with both Idaho and Washington good to excellent off
9% to respective rankings of 53% and 68%.
   Shipments..Weekly export inspections showed another solid week of U.S.
wheat loadings, coming in at 23.1 mb to put total shipments at 83 mb and
32% ahead of a year ago.  Top shipper for the week was hard red winter at
10.7 mb, followed by hard red spring at 5.4 mb.  Soft white also recorded
a big week with 5.6 mb. Top destinations off the PNW ports were Indonesia
with 6.7 mb, followed by Japan with 2.6 mb and South Korea with 1.3 mb.

                                      -Norm Ruhoff  Contributing Analyst

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