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                                                       December 18, 2018
                                                                  
                                   Portland Price Trends
                 12-01-17    01-01-18    11-01-18    12-11-18    12-18-18
#1 SWW (bu)         5.22        5.32        6.22        6.15        6.28
White Club          5.27        5.32        6.22        6.15        6.28
DNS 14%             7.61        7.52        6.92        6.90        6.94
HRW 11.5%           5.72        5.60        6.51        6.53        6.68
#2 Corn (ton)     153.00      157.00      159.00      172.00      170.00
#2 Barley         125.00      128.00      140.00      140.00      140.00

   Wheat...An early-week spike in Chicago futures was enough to move the
west coast soft white wheat market to a marketing year high, as spot bids 
broke through to $6.28; the best close since July of 2015.  Basis levels 
remained a bit defensive for white wheat while spreads held steady on the
hard red winter and dark northern spring wheats.  Cash bids are also flat
through March for dark northern spring as exporters work the front side
of the market to cover recent demand.
   Shipments...Weekly export inpsections showed a solid week of movement
of U.S wheat last week, coming in at 25 mb to put the year-to-date total
at 430 mb and 15% behind a year ago.  Top shipper was hard red winter at
9.2 mb, followed by hard red spring with 7.4 mb.  Soft white shipped 3.7
mb and soft red winter registered 3.2 mb.  Top destinations off the west
coast included Taiwan with 3 mb, Japan at 2.9 mb, the Philippines at 2.4
mb and Bangladesh with 2.2 mb.
                                     -Norm Ruhoff  Contributing Analyst

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