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March 26, 2015
                                   Portland Price Trends
                 03-01-14    08-01-14    02-01-15    03-19-15    03-26-15
#1 SWW (bu)         7.35        6.92        6.72        6.80        6.65
White Club          8.05        8.17        9.22        9.30        9.15
HRS 14%             8.69        8.31        8.76        8.90        8.83
HRW 11.5%           8.63        7.62        6.84        6.84        6.67
#2 Corn (ton)     195.00      185.00      180.00      171.00      176.00
#2 Barley         165.00      175.00      170.00      165.00      160.00

   Wheat...A marketing-year low for US wheat sales took a bite out of the
recent gains in futures today, pulling the west coast wheat complex lower.
After punching in new highs for the calendar year on Monday, cash markets
tailed lower with futures today to finish below last week's closing bids.
With the exception of hard red winter wheat, which saw basis levels pull
back a dime today, soft white wheat and hard red spring wheat basis held
near week-ago levels.  New crop bids for August delivery at the close put
soft white at $6.25, club at $7.00, hard red spring 14% at $7.32, winter
wheat 11.5% protein at $6.58, and feed barley at $160. 
   Top Buyers...Year-to-date wheat sales show Japan as the top buyer for
US wheat with 108 mb; holding top spot for hard red spring and soft white
wheat.  Mexico stands in second place with 97 mb; mostly soft red winter
and hard red winter.  The Philippines holds third place with 81 mb, and
Nigeria stands in fourth place with 70 mb.  Brazil holds fifth place with
56 mb of mostly hard red winter, but that number sets nearly 90 mb below
the commitments they had in place at this time last year. 
                                       -Norm Ruhoff  Contributing Analyst

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