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                                                           July 28, 2016
                                                                  
                                   Portland Price Trends
                 07-01-15    08-01-15    06-01-16    07-21-16    07-28-16
#1 SWW (bu)         6.60        5.67        5.35        5.22        5.05
White Club          7.35        6.42        5.35        5.22        5.05
DNS 14%             7.47        6.19        6.29        6.01        6.02
HRW 11.5%           6.67        5.60        5.41        5.12        5.14
#2 Corn (ton)     180.00      160.00      179.00      159.00      157.00
#2 Barley         150.00      159.00      145.00      135.00      135.00

   Wheat...West coast wheat markets drifted lower against a weaker futures
complex this week, with basis holding steady on hard red winter and spring
wheat but weakening on white wheat.  An advancing wheat harvest with above
average yields and weak prices are beginning to weigh on the front side of
the market, with limited movement toward export markets backing up storage
in country locations. Weather conditions remain hot and dry into next week 
which should trigger heavy harvesting in southeast Washington and northern
Idaho winter wheat zones.
   Weekly Sales...USDA reported another fairly good week of demand for U.S.
wheat, supported primarily by sales of hard red winter.  Total sales came
in at 18.6 mb, about 2 mb below the four-week average, putting year-to-date
commitments at 359 mb; 27% ahead of a year ago and 1% below the five-year
average pace.  Hard red winter registered nearly 12 mb in sales and stands
with 137 mb in commitments which is 78% ahead of last year and 14% ahead of
the five-year average.  Soft white recorded 2.8 mb in sales and at 64 mb is
36% ahead of a year ago and 12% ahead of average.  Spring wheat sales came
in a 2 mb to put year-to-date sales at 119 mb; 33% ahead of a year ago and
27% ahead of average.  Top buyers for the week were Japan, Mexico, Unknown
and Brazil.
                                      -Norm Ruhoff  Extension Economist
        University of Idaho  CALS-AERS

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