Mid Miss Group
P.O. Box 150 | Gladstone, IL 61437
Main Office Phone 309-457-4800 | Fertilizer Office 309-325-7103
Toll Free 1-855-MID-MISS(643-6477) | Fax 309-325-7109
   

 

 
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                                                       March 30, 2017
                                                                  
                                   Portland Price Trends
                 03-01-16    08-01-16    02-01-17    03-23-17    03-30-17
#1 SWW (bu)         4.90        4.95        4.68        4.82        4.78
White Club          5.20        4.95        4.83        4.97        4.93
DNS 14%             5.95        6.03        6.91        6.76        6.78
HRW 11.5%           5.34        5.10        5.19        5.03        4.92
#2 Corn (ton)     153.00      158.00      169.00      154.00      157.00
#2 Barley         145.00      135.00      115.00      120.00      120.00

   Wheat...With basis levels holding unchanged on both hard red winter and
hard red spring wheat, those markets were directly reflective of a higher
move in Minneapolis and retreat in KC futures this week.  White wheat held
near the $4.80 level as basis improvement offset some of the declines in
Chicago futures.  General trading across all markets was termed light. 
   Weekly Sales...USDA reported another relatively good week of demand for
U.S. wheat, coming in 33% above the four-week average at 17.1 mb.  Current
year demand now stands at 964 mb, which is 36% ahead of a year ago and 6%
above the five-year average.  Hard red winter was top seller, registering
more than 9 mb for the second straight week to put year-to-date sales at
396 mb; 98% ahead of a year ago and 26% above average.  Sales for hard red
spring came in at 3.8 mb, placing total sales at 290 mb which is 27% over
a year ago and 25% ahead of average.  Soft white wheat demand was the best  
in three weeks at 2.6 mb, placing commitments at 166 mb which is 22% ahead
of last year and 2% above average.
   Top Buyers...Both Saudi Arabia and the Philippines were at the top end
of the buying list over the past week, each taking nearly 4.4 mb.  Mexico
booked 2.7 mb, followed by Indonesia with 2.6 mb and Taiwan with 1.8 mb.

                                     -Norm Ruhoff  Contributing Analyst

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