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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                                                       May 18, 2017
                                                                  
                                   Portland Price Trends
                 05-01-16    08-01-16    04-01-17    05-11-17    05-18-17
#1 SWW (bu)         5.33        4.95        4.82        4.88        4.90
White Club          5.53        4.95        4.97        5.03        5.05
DNS 14%             6.21        6.03        6.66        6.73        6.68
HRW 11.5%           5.31        5.10        4.94        5.10        4.97
#2 Corn (ton)     167.00      158.00      160.00      158.00      157.00
#2 Barley         145.00      135.00      120.00      125.00      125.00

   Wheat..Firm basis levels on white wheat helped support flat price bids
this week, as west coast exporters continued to work on generating farmer
selling interest. Export shipments have been solid the past few weeks and
the need to fill the pipeline for recent sales remains apparent. Hard red
winter and spring wheat basis levels remained steady through the week.
   Weekly Sales...USDA reported a fairly good week of demand for wheat as
combined old and new crop sales came in above 23 mb.  Old crop sales were
at 9.1 mb, led by 4.5 mb in hard red winter sales, and total sales stand
right at the USDA projection for the year of 1.035 bln bushels. Top buyer 
for the week was China, booking 2.5 mb of mostly hard red spring wheat, 
followed by Nigeria with 1.9 mb and Vietnam with 1.7 mb.  New crop sales 
totaled 14.4 mb, with hard red spring accounting for half the business 
follwed by hard red winter at 3.8 mb.  Top new crop buyer was Japan with 
2.8 mb, followed by Mexico with 2 mb. Total commitments for 2017-18 are
now at 114 mb compared to 128 mb a year ago.

                                     -Norm Ruhoff  Contributing Analyst

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