October 18, 2019
                                                                  
                                   Portland Price Trends
                 10-01-18    01-01-19    09-01-19    10-11-19   10-18-19
#1 SWW (bu)         6.15        6.15        5.70        6.08       6.10
White Club          6.15        6.15        5.70        6.58       6.85
DNS 14%             6.67        6.59        5.67        6.95       7.04
HRW 11.5%           6.36        6.39        5.20        5.58       5.89
#2 Corn (ton)     157.00      168.00      162.00      177.00     180.00
#2 Barley         140.00      140.00      140.00      150.00     150.00

   Wheat...Firm basis levels and a higher futures complex moved protein
wheat market higher on the west coast this week, while soft white wheat
saw defensive basis levels against Chicago.  Spot white wheat basis was
30 cents weaker from last Friday, but club wheat premiums continued to
build; gaining 25 cents through the week.
   Weekly Sales...USDA showed a modest decline in overall wheat exports
over the past week, coming in just above the four-week average at 14.5 
mb.  Year-to-date sales now stand at 508 mb which is 15% ahead of last
year at this time and in-line with the five-year average pace. Hard red
winter was top seller with 6 mb, putting sales 52% ahead of last year
and 10% above average at 191 mb.  Hard red spring booked 5.4 mb and at
139 mb, sets in-line with a year ago but 11% behind average. Sales for
soft white were at 1.9 mb, putting current year sales at 97 mb which is
14% behind a year ago and 3% below average.
   Top Buyers..Mexico and Nigeria were the top buyers for the week with
both near the 2.8 mb mark, while unknown registered 2 mb in purchases.

                                   -Norm Ruhoff  Contributing Analyst

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