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                                                       December 13, 2018
                                                                  
                                   Portland Price Trends
                 12-01-17    01-01-18    11-01-18    12-06-18    12-13-18
#1 SWW (bu)         5.22        5.32        6.22        6.22        6.25
White Club          5.27        5.32        6.22        6.22        6.25
DNS 14%             7.61        7.52        6.92        6.93        7.02
HRW 11.5%           5.72        5.60        6.51        6.60        6.70
#2 Corn (ton)     153.00      157.00      159.00      172.00      170.00
#2 Barley         125.00      128.00      140.00      140.00      140.00

   Wheat...Strong export demand moved west coast wheat markets higher on
the week, with basis levels holding firm on protein wheats and weakening
for soft white. Dark northern spring 14% protein bids moved back above $7
today, while hard red winter also posted the best price levels in a month.  
   Weekly Sales...USDA showed a surge in U.S. wheat export demand for the
second straight week, as sales once again set the second best weekly total
of the marketing year at 27.7 mb. Overall wheat export commitments are now
at 601 mb; 6$ behind a year ago and 11% behind the five-year average.  Top
seller was hard red winter, marking the best week of the year with 15.4 mb
to put sales at 182 mb, which is 28% behind a year ago. Sales for hard red 
spring also remained solid at 5 mb, putting the current year total at 188
mb; up 8% from last year and on track with average. Soft red winter booked
3.8 mb and with 78 mb in sales stands 28% ahead of last year.  Soft white
match last week with 3.6 mb, setting with 139 mb which is 17% ahead of the
five-year average pace.
   Top Buyers...The top buyer for the week was classified as unknown, but
accounted for 7.8 mb in wheat purchases.  Japan booked 4.1 mb, Nigeria was
in for 3.3 mb, Singapore at 2.4 mb and Mexico with 2.3 mb.
   
                                      -Norm Ruhoff  Contributing Analyst

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