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                                                       April 25, 2017
                                                                  
                                   Portland Price Trends
                 04-01-16    08-01-16    03-01-17    04-17-17    04-24-17
#1 SWW (bu)         5.14        4.95        4.90        4.80        4.70
White Club          5.34        4.95        5.05        4.95        4.85
DNS 14%             6.24        6.03        6.96        6.74        6.56
HRW 11.5%           5.52        5.10        5.47        4.94        4.77
#2 Corn (ton)     153.00      158.00      175.00      157.00      157.00
#2 Barley         140.00      135.00      118.00      125.00      125.00

   Wheat...West coast wheat markets opened the week with a sharp spike in
basis levels, jumping a nickel higher this afternoon to 68 over; the best
since mid-November and more than triple lows from mid-February.  A recent 
donation sale to Yemen under a fairly tight shipping schedule has spurred
exporter interest in generating nearby farm movement.
   Shipments...Weekly export inspections showed another relatively solid
week of loading for U.S. wheat off all ports.  Shipments of 22.5 mb last
week put year-to-date movement at 874 mb and 32% ahead of a year ago. Top
shipper was hard red spring with 10.1 mb, follwed by hard red winter with
8.9 mb and soft white at 2.7 mb.  The Philippines was top destination off
the west coast with 3.9 mb, followed by Taiwan with 3 mb, Japan with 2.5
mb and China loading 2.3 mb.
   Crop Progress..A modest decline in winter wheat ratings for Washington
and Idaho was offset by improved Oregon ratings, leaving the three-state
index at 105% of average. Idaho saw good to excellent drop a point to 68%
but poor-very poor increase 3%; Washington good to excellent slipped 2% to
83%; Oregon gained 4% in good to excellent to 85%.  Spring planting showed
Idaho getting another 20% of the crop in last week at 48% complete; still
23% behind average.  Washington sowed another 18% and at 38% complete sets
a full 33% behind the five-year average.

                                      -Norm Ruhoff  Contributing Analyst

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