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                                                       February 21, 2017
                                                                  
                                   Portland Price Trends
                 02-01-16    08-01-16    01-02-17    02-14-17    02-21-17
#1 SWW (bu)         5.30        4.95        4.53        4.82        4.82
White Club          6.55        4.95        4.68        4.97        4.97
DNS 14%             6.20        6.03        6.58        7.03        6.89
HRW 11.5%           5.62        5.10        5.03        5.53        5.44
#2 Corn (ton)     162.00      158.00      159.00      171.00      175.00
#2 Barley         145.00      135.00      115.00      115.00      115.00

   Wheat...West coast wheat markets came out of the extended weekend with
bids holding mostly steady, following modest gains across futures. Export
bid structures remain flat across all the wheat markets, indicating needs
for nearby wheat movement to address recent logistical challenges. Slower
rail movement over the past month due to inclement weather was compounded
by the current extended closue of the river system.
   Shipments...Weekly export inspections showed a dramatic improvement in
U.S. wheat loadings over the past week, driven primarily by a rebound for
west coast port activity from a recent backlog. Total U.S. wheat loadings
came in at 20.5 mb to put year-to-date shipments 675 mb and 27% ahead of
a year ago.  Registering as top shipper for the week was hard red spring 
with 5.9 mb, followed by white wheat with nearly 5 mb and hard red winter
with 4.7 mb.  Top destination off the west coast was Japan with 3.5 mb,
followed by the Philippines with 2.7 mb, Sri Lanka with 2.4 mb and South
Korea with 2.3 mb.
                                       -Norm Ruhoff  Contributing Analyst

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