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                                                       October 16, 2018
                                                                  
                                   Portland Price Trends
                 10-01-17    01-01-18    09-01-18    10-09-18    10-16-18
#1 SWW (bu)         5.35        5.32        6.05        6.18        6.25
White Club          5.40        5.32        6.05        6.18        6.25
DNS 14%             7.41        7.52        6.84        6.93        6.98
HRW 11.5%           5.79        5.60        6.53        6.44        6.65
#2 Corn (ton)     141.00      157.00      156.00      159.00      160.00
#2 Barley         125.00      128.00      140.00      140.00      140.00

   Wheat...Firm basis levels and limited farm offerings moved west coast
white wheat prices back to marketing-year highs in early week trade. Spot
basis of 100 over stands more than double the average for mid-October and
remains supported by recent export demand.  
   Crop Progress..USDA planting progress numbers showed that precipitation
over the past week helped coax additional winter wheat plantings across the
Pacific Northwest. Idaho planted another 17% of the crop to stand right at
the average with 84% in, Oregon stands 51% planted versus 64% on average,
and Washington put in another 12% and sets 3% ahead of average at 87% sown. 
   Shipments...Weekly export inspections showed U.S. wheat shipments held
right on the same track as the prior week, coming in at 16.5 mb to put the
year-to-date total at 287 mb and 26% below a year ago. Hard red winter was
the top shipper with 5 mb, followed by soft white with 3.6 mb and hard red
spring at 3.4 mb. Top destinations off the west coast were the Philippines
and Iraq, each with 3.8 mb, followed by Japan with 2 mb.

                                      -Norm Ruhoff  Contributing Analyst

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