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                                                       May 25, 2017
                                                                  
                                   Portland Price Trends
                 05-01-16    08-01-16    04-01-17    05-18-17    05-25-17
#1 SWW (bu)         5.33        4.95        4.82        4.90        4.92
White Club          5.53        4.95        4.97        5.05        5.07
DNS 14%             6.21        6.03        6.66        6.68        6.87
HRW 11.5%           5.31        5.10        4.94        4.97        5.11
#2 Corn (ton)     167.00      158.00      160.00      157.00      158.00
#2 Barley         145.00      135.00      120.00      125.00      127.00

   Wheat...West coast white wheat markets saw a mostly sideways week for
price levels, as firm basis levels propped-up that market and attracted a
small amount of farm selling.  Bid structures for white wheat show a flat
market into August new crop; dark northern spring markets slip about 10
cents between July and August; hard red winter prices show an 8 cent bump
between July and August.
   Weekly Sales..USDA reported overall U.S. wheat demand held on par with
as combined old and new crop sales right at 20 mb.  Old crop sales of 7.4 
mb put year-to-date commitments at 1.043 bln bushels and 38% ahead of a 
year ago.  China and Nigeria were the top buyers. Sales of new crop came 
in at 12.6 mb, putting commitments for the coming year at 126.9 mb versus 
141.7 mb at this time last year.  Mexico was the big buyer, committing to
additional hard red winter wheat. 
                                     -Norm Ruhoff  Contributing Analyst

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