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April 17, 2014
                                                                  
                                   Portland Price Trends
                 04-01-13    08-01-13    03-01-14    04-10-14    04-17-14
#1 SWW (bu)         7.95        7.40        7.35        7.50        7.80
White Club          7.95        7.40        8.05        8.10        8.30
HRS 14%             9.18        8.47        8.69        8.56        8.68
HRW 11.5%           8.57        8.20        8.63        8.52        8.68
#2 Corn (ton)     274.00      260.00      195.00      223.00      220.00
#2 Barley         230.00      210.00      165.00      180.00      185.00

   Wheat...West coast white wheat markets surged back toward recent highs 
this week, supported by stronger futures and recent old crop demand. Spot
basis was generally bid at 85 over Chicago May, with August new crop bid
at about plus 50 the September futures for a flat price of $7.60.  Export
logistics continue to work through a bottleneck on the upper Snake River,
where gates repair on Little Goose Dam have delayed shipments. Anticipated
date of reopening at this point is May 1.  Basis on protein wheats showed
some of the bids rolling to respective July contracts, with nearby basis
remaining somewhat defensive.
   Weekly Sales...USDA reported a solid rebound in overall export demand,
with total sales above 16 mb placing year-to-date sales 17% above a year
ago at 1.13 bln bushels. Hard red spring wheat was the top seller for the
week at 6.1 mb, placing that class 13% ahead of last year at 245 mb. Soft
white wheat tallied only 1.4 mb, plaicng year-to-date sales 5% behind a
year ago at 161 mb.

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