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July 30, 2015
                                                                  
                                   Portland Price Trends
                 07-01-14    08-01-14    06-01-15    07-23-15    07-30-15
#1 SWW (bu)         7.03        6.92        6.03        5.85        5.68
White Club          7.83        8.17        7.53        6.60        6.40
HRS 14%             8.30        8.31        7.35        6.53        5.66
HRW 11.5%           7.89        7.62        6.31        5.82        6.31
#2 Corn (ton)     190.00      185.00      160.00      163.00      155.00
#2 Barley         170.00      175.00      150.00      155.00      161.00

   Wheat...West coast wheat markets found some stability this week, riding
a modest bounce in futures against firmer basis levels on white wheat and 
hard red winter. Aside from routine Pacific Rim business, demand for white
wheat remains light.  Warm and dry weather continues to move harvest along
across the PNW, with many areas reporting in with lighter test weights and
higher than average protein on white wheat.  Exporter bids are reflecting
premiums for lower protein deliveries on both soft white and club wheat.
   Weekly Sales..USDA reported the best week of demand for US wheat by far,
coming in at nearly 26 mb to put total sales at 282 mb and 21% behind last
year. Hard red spring was top seller, with 9.6 mb and putting year-to-date
sales 24% behind last year at 90 mb. Hard red winter also saw the best week
of demand for the year with 9 mb, but remains 31% behind last year.  White
wheat demand continues to struggle, booking only 1.1 mb to put year-to-date
sales at 47 mb and 18% behind a year ago. 

                                         -Norm Ruhoff  Contributing Analyst

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