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                                                       August 21, 2018
                                                                  
                                   Portland Price Trends
                 08-01-17    01-01-18    07-01-18    08-14-18    08-21-18
#1 SWW (bu)         5.20        5.32        6.00        6.15        6.20
White Club          5.30        5.32        6.00        6.18        6.22
DNS 14%             8.38        7.52        6.52        6.79        6.79
HRW 11.5%           5.65        5.60        5.86        6.53        6.49
#2 Corn (ton)     148.00      157.00      157.00      157.00      156.00
#2 Barley         125.00      128.00      150.00      145.00      145.00

   Wheat...West coast white wheat markets remain relatively steady, as the
export trade is firming-up basis levels against declines in Chicago. Hard
red winter and spring wheat basis levels are holding steady, with markets 
retreating against lower futures to levels on par with a week ago.
   Crop Progress...USDA reports winter wheat harvest is virtually complete
in Oregon, with both Idaho and Washington approaching 90% complete and in-
line with the average pace.  Spring wheat harvest for Idaho and Washington
are about halfway complete. Harvest reports on winter wheat show generally
above-average yields, good quality and lower-than-average protein levels.
   Shipments...Weekly export inspections showed overall US wheat shipments 
declined from the prior week, coming in at 12.7 mb to put the year-to-date
total at 155 mb and 37% behind a year ago.  Top shipper by class for last
week was hard red winter with 4.7 mb, followed by soft white wheat with 4
mb. Hard red spring registered 2.2 mb and soft red winter reported 1.7 mb.
Top destinations off the west coast included Japan with 4.4 mb, Yemen with
2 mb and Chile at 1.7 mb.
                                       -Norm Ruhoff  Contributing Analyst

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