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March 5, 2015
                                                                  
                                   Portland Price Trends
                 03-01-14    08-01-14    02-01-15    02-26-15    03-05-15
#1 SWW (bu)         7.35        6.92        6.72        6.65        6.57
White Club          8.05        8.17        9.22        9.15        9.07
HRS 14%             8.69        8.31        8.76        8.56        8.84
HRW 11.5%           8.63        7.62        6.84        6.62        6.57
#2 Corn (ton)     195.00      185.00      180.00      177.00      174.00
#2 Barley         165.00      175.00      170.00      170.00      170.00

   Wheat...A stronger dollar and subsequent tech selling to new contract
lows in Chicago took a toll on west coast white wheat today, with markets 
retreating to within a dime of seasonal lows.  Basis levels continued to 
firm over the past week; soft white over Chicago closed at +177 today, up 
15 cents for the week, hard red winter 11.5% was up a nickel for the week 
at +140 and hard red spring 14% basis added 25 cents during the week to 
+325. Carries for soft white show 3 cents per month while protein markets 
remain flat.
   Weekly Sales...USDA reported one of the better weeks for wheat sales
since October, due mainly to the Egyptian business completed last week.
Total sales came in at 17.3 mb to put the year-to-date tally at 801 mb,
which stands 24% behind a year ago.  Hard red winter topped the list at
11.5 mb, mostly Egyptian business, for a current year total of 250 mb
that is 37% behind last year. Hard red spring booked 4.9 mb on the week
and at 261 mb sets 16% ahead of last year.  Soft white sold less than a
million bushels and overall sales are 8% under a year ago.
                                                                  
                                      -Norm Ruhoff  Contributing Analyst

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