May 16, 2013
                                                                  
                                   Portland Price Trends
                 05-01-12    08-01-12    04-01-13    05-09-13    05-16-13
#1 SWW (bu)         7.15        8.85        7.95        7.92        7.77
White Club          7.15        8.85        7.95        7.92        7.77
HRS 14%             9.17        9.90        9.18        9.41        9.19
HRW 11.5%           7.56        9.43        7.56        9.09        8.81
#2 Corn (ton)     280.00      339.00      280.00      285.00      285.00
#2 Barley         212.00      250.00      212.00      238.00      240.00

   Wheat...West coast soft white wheat displayed some independence this
week, supported by recent demand and limited farm selling.  As a result,
basis levels to Chicago bounced back to 90 over the July contract, while
new crop firmed to 70 over the September futures.  Basis levels on hard
red spring and winter wheat remained somewhat defensive on the old crop,
but posted steady to better numbers through the week for new crop. Cash
bids at the close today showed soft white for August at $7.66, hard red
spring wheat was at $8.91 and hard red winter at $8.46.
   Weekly Sales...USDA reported total old crop wheat sales at 3.3 mb for
all classes, putting the year-to-date total at 987 mb and 3% behind last
year.  New crop sales came in at 15 mb for all classes of wheat to place
commitments at 151 mb compared to 94 mb at this time last year. Notable
on the new crop sales this week was 6.3 mb for soft white, moving totals
for that class to 23 mb compared to 15 mb a year ago.
   
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