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September 3, 2015
                                                                  
                                   Portland Price Trends
                 09-01-14    01-01-15    08-01-15    08-27-15    09-03-15
#1 SWW (bu)         7.10        6.97        5.70        5.65        5.46
White Club          9.35        9.47        6.45        6.40        6.96
DNS 14%             7.68        8.27        5.64        6.14        6.20
HRW 11.5%           8.80        7.31        6.22        5.84        5.68
#2 Corn (ton)     178.00      195.00      159.00      162.00      158.00
#2 Barley         165.00      170.00      160.00      160.00      160.00

   Wheat..West coast wheat markets fell prey to further erosion in wheat
futures this week, as new contract lows across the exchanges pulled bids
to new lows. Even with above average basis levels, both soft white wheat
and hard red winter closed at price levels not seen since the summer of
2010, with dark northern spring hovering near 2009 lows. Trading remains
limited, highlighted by continued steepening of premiums on low protein 
soft white and club wheat.  Club wheat guaranteed to meet a maximium of 
10.5% protein was bid at a $1.50 premium to ordinary white wheat today.   
   Weekly Sales...USDA revealed a lethargic week of demand for US wheat,
coming in at a mrekting year low of 10 mb to put year-to-date sales 12%
behind a year ago at 370 mb.  Soft red winter was top seller with 4 mb,
going mostly to Mexico; hard red spring booked 3.5 mb to the traditional
Pacific Rim markets, standing 12% behind a year ago; and white wheat saw
only 200,000 bushels in sales to set 6% behind last year with 63 mb.
   
                                      -Norm Ruhoff  Contributing Analyst

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