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                                                       September 18, 2018
                                                                  
                                   Portland Price Trends
                 09-01-17    01-01-18    08-01-18    09-11-18    09-18-18
#1 SWW (bu)         5.26        5.32        6.05        5.98        6.03
White Club          5.36        5.32        6.05        5.98        6.03
DNS 14%             7.52        7.52        7.08        6.60        6.62
HRW 11.5%           5.49        5.60        6.81        6.22        6.18
#2 Corn (ton)     151.00      157.00      160.00      158.00      148.00
#2 Barley         120.00      128.00      140.00      140.00      140.00

   Wheat...Basis levels remained firm for west coast white wheat markets
in early-week trade, supported by recent demand and limited farm selling.
Bid structures also showed wheat markets relatively flat into delivery
for the next 45 days. 
   Crop Progress...ith spring wheat harvest virtually complete across the
Pacific Northwest, producers are planting winter wheat in earnest.  USDA
reports Washingtion nearly halfway planted at 47% in versus a 44% average,
Oregon 1% ahead of average at 10% and Idaho 5% ahead of average at 24%. 
   Shipments...Weekly export inspections showed U.S. wheat shipments were
on-par with the prior week, coming in at 14.9 mb to put the current year
total at 224 mb, which is now 30% behind a year ago.  Top shipper for the
week was hard red springwith 6.2 mb, followed by hard red winter with 4.9
mb and soft white at 2.5 mb. Top destination off the west coast was Japan
with 5.5 mb, followed by Thailand taking 2.1 mb and Malaysia 1.6 mb.

                                       -Norm Ruhoff  Contributing Analyst

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