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                                                       March 23, 2017
                                                                  
                                   Portland Price Trends
                 03-01-16    08-01-16    02-01-17    03-16-17    03-23-17
#1 SWW (bu)         4.90        4.95        4.68        4.82        4.82
White Club          5.20        4.95        4.83        4.97        4.97
DNS 14%             5.95        6.03        6.91        6.83        6.76
HRW 11.5%           5.34        5.10        5.19        5.20        5.03
#2 Corn (ton)     153.00      158.00      169.00      157.00      154.00
#2 Barley         145.00      135.00      115.00      120.00      120.00

   Wheat...Firming basis levels on white wheat helped offset declines in
Chicago futures this week, while hard red winter and spring wheat prices
drifted lower against respective declines on the board.  Delayed opening
of the upper river barge system from an extended maintenance closure has
exporters pushing for nearby white wheat shipments.
   Weekly Sales...USDA reported an improved week of demand for U.S. wheat,
coming in above the four-week average at 15.4 mb. Year-to-date demand now
stands at 947 mb which is 36% ahead of a year ago and 6% above the 5-year
average pace.The majority of interest was in hard red winter, registering
9.2 mb for the week to put year-to-date commitments at 387 mb; 96% ahead
of a year ago and 25% above average. Hard red spring wheat tallied 2.9 mb
for the week to place total sales at 296 mb, standing 28% ahead of a year
ago and 24% above average.  Soft white demand came in below 1 mb for the 
second straight week with sales of 163 mb setting 21% above last year and 
1% over the average pace.  Soft red winter saw a relatively good week of 
demand with 2.6 mb booked.
   Top Buyers...Japan and Algeria were both top buyers for the week with
4.5 mb.  Mexico booked a total of 2.5 mb of soft red winter, while China
and Saudi Arabia bolstered hard red winter numbers, booking 2.4 and 2.2
mb respectively.
                                     -Norm Ruhoff  Contributing Analyst

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