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                                                       March 28, 2017
                                                                  
                                   Portland Price Trends
                 03-01-16    08-01-16    02-01-17    03-21-17    03-28-17
#1 SWW (bu)         4.90        4.95        4.68        4.80        4.80
White Club          5.20        4.95        4.83        4.95        4.95
DNS 14%             5.95        6.03        6.91        6.73        6.70
HRW 11.5%           5.34        5.10        5.19        5.13        4.99
#2 Corn (ton)     153.00      158.00      169.00      155.00      156.00
#2 Barley         145.00      135.00      115.00      120.00      120.00

   Wheat..An extended closure of the upper Snake River dams beyond initial
repair scheduling has kept exporter interest on nearby deliveries, firming
white wheat basis levels against declines in Chicago.  Grower movement has 
remained relatively light and some elevators are reporting increased loan 
activity ahead of the March 31 government deadline.  Basis levels on both
hard red winter and spring wheat have held mostly steady, with all markets 
posting no carries through May.
   Shipments...Weekly export shipments showed another relatively good week
of loading activity for U.S. wheat, coming in just under 20 mb to put the
year-to-date total at 781 mb and 29% ahead of a year ago.  Top shipper for
the week was hard red winter with 10.6 mb followed by hard red spring with
4.7 mb.  White wheat registered 2.7 mb. Top destination off the west coast
was the Philippines with 3.9 mb, followed by both Taiwan and Guatemala at
1.7 mb each.  Japan and South Korea were also on the list of destinations,
taking less than a million bushels each.

                                      -Norm Ruhoff  Contributing Analyst

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