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                                                           May 5, 2016
                                                                  
                                   Portland Price Trends
                 05-01-15    08-01-15    04-01-16    04-28-16    05-05-16
#1 SWW (bu)         6.20        5.67        5.14        5.28        5.25
White Club          7.70        6.42        5.34        5.48        5.45
DNS 14%             7.33        6.19        6.24        6.27        6.17
HRW 11.5%           6.07        5.60        5.52        5.49        5.28
#2 Corn (ton)     153.00      160.00      153.00      166.00      161.00
#2 Barley         140.00      159.00      140.00      145.00      145.00

   Wheat...West coast wheat markets went adrift with the retreat across
the futures complex this week, but a stronger white wheat basis did help
offset some of the decline.  Spot basis levels climbed more than a dime
today, closing at 62 over Chicago July futures and moving above the ten-
year average for the first time since early January. The near-term slate
for export loadings had exporters pushing for spot delivery of remaining
old crop white wheat.   Warmer temps and occasional rain showers remain 
ideal for crop conditons across the Pacific Northwest. 
   Weekly Sales...USDA reported total US wheat sales slipped to less than
half the prior week, coming in at 6.5 mb to put year-to-date sales at 740
mb; down 13% from last year and 35 mb below current projections with four
full weeks left in the marketing year. Hard red winter was the top seller
with 3 mb, standing 12 mb short of USDA projections; hard red spring with
2.7 mb stands 6 mb under projections; soft white wheat saw negligible old
crop interest and sets 5 mb short of projections; and soft red winter saw
less than 1 mb sold, standing 3 mb under USDA projections. Total new crop
wheat sales came in at 5.1 mb, putting commitments for the coming year at
93 mb compared to 106 mb at the end of April last year. By-class new crop
sales show hard red spring up nearly 70% from this time last year; white
wheat even with last year; hard red winter down 11%; and soft red winter
down 60% from a year ago.
                                      -Norm Ruhoff  Extension Economist
        University of Idaho  CALS-AERS

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