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                                                       April 25, 2019
                                                                  
                                   Portland Price Trends
                 04-01-18    08-01-18    03-01-19    04-18-19   04-25-19
#1 SWW (bu)         5.80        6.05        6.10        5.85       5.75
White Club          5.80        6.05        6.10        5.85       5.75
DNS 14%             7.03        7.08        6.68        6.41       6.18
HRW 11.5%           6.17        6.89        6.00        5.96       5.84
#2 Corn (ton)     175.00      160.00      180.00      167.00     165.00
#2 Barley         152.00      140.00      140.00      140.00     140.00

   Wheat...Weakness across the futures complex weighed on west coast cash
bids over the past week, with the dark norther spring wheat market taking
the bigger hit.  White wheat basis for white wheat to Chicago improved a
nickel over the past week while basis on the protein wheats held steady. 
   Weekly Sales...USDA reported a weekly tally of export sales that were
about on par with the four-week average, with well over half the total of
15.6 mb being hard red winter.  Total sales year-to-date now stand at 931
mb; 9% ahead of a year ago and 1% above the five-year average pace.  Hard
red winter garnered nearly 10 mb for the week and with 338 mb in sales is
setting even to a year ago and 1% ahead of average. Soft white booked 2.4 
mb and with 198 mb in commitments, sets 3% ahead of a year ago and is now
21% above the average pace.  Hard red spring saw 2 mb in new business and 
with 255 mb sold, stands 15% ahead of a year ago but 3% behind average.
   Top Buyers...Mexico was the big buyer for the week, booking 5.9 mb of 
mostly hard red winter.  Nigeria booked 2.9 mb, followed by Mozambique at
1.9 mb, Tanzania with 1.6 mb and the Philippines with 1.4 mb.

                                      -Norm Ruhoff  Contributing Analyst

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