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April 23, 2015
                                   Portland Price Trends
                 04-01-14    08-01-14    03-01-15    04-16-15    04-23-15
#1 SWW (bu)         7.75        6.92        6.77        6.40        6.48
White Club          8.35        8.17        9.27        7.90        7.98
HRS 14%             9.00        8.31        8.95        7.84        7.55
HRW 11.5%           8.83        7.62        6.75        6.24        6.32
#2 Corn (ton)     224.00      185.00      176.00      166.00      166.00
#2 Barley         180.00      175.00      170.00      155.00      150.00

   Wheat..West coast wheat markets saw the soft white and hard red winter
markets regain some footing, while hard red spring wheat prices remained
defensive with softening old crop basis levels.  Pacific Rim buying was
noted over the past week, and Japan booked additional coverage for their
June requirements this week, which included 2.7 mb of US wheat.  Weather
remained open through the week across the PNW, allowing for good progress
on spring plantings.
   Weekly Sales...Traditional Pacific Rim buyers took advantage of weaker
price levels over the past week, with South Korea, Japan, the Philippines,
and Taiwan together buying a total of 9 mb, along with Mexico booking 1.7
mb of mostly hard red winter.  Total US wheat demand was more than double 
the 4-week average at 14.6 mb, spread evenly between soft white, hard red 
winter and hard red spring wheat.  Soft white posted the best week since 
early February, and with the 4 mb sold over the past week now stands 3 mb
ahead of current USDA projections at 148 mb.
                                       -Norm Ruhoff  Contributing Analyst

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