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May 26, 2015
                                                                  
                                   Portland Price Trends
                 05-01-14    08-01-14    04-01-15    05-19-15    05-26-15
#1 SWW (bu)         7.95        6.92        6.87        6.20        6.07
White Club          8.20        8.17        9.37        7.70        7.57
HRS 14%             9.06        8.31        9.12        7.45        7.32
HRW 11.5%           9.19        7.62        7.04        6.30        6.18
#2 Corn (ton)     218.00      185.00      171.00      160.00      159.00
#2 Barley         190.00      175.00      160.00      150.00      150.00

   Wheat..West coast wheat markets came under pressure today from weaker
futures, offset somewhat by firmer basis levels in soft white wheat and
hard red winter which both strengthened a nickel. Japan is in the market
this week, seeking 2.4 mb of US wheat and 1.2 mb of Canadian springs for
coverage on a portion of their July requirements.  Both white wheat and
hard red winter show bids flat into August, while hard red spring shows
a 20 cent premium for nearby over new crop delivey.
   Crop Progress...Persistent moisture across the Pacific Northwest over
the past two weeks continues to improve crop conditions, as the 3-state
weighted winter wheat index climbed another point over the past week to 
90% of average.  Good to excellent ratings for Washington gained 1 point
to 40%, Idaho was up 2 points to 64% and Oregon held at 32%. Montana saw
a 1 point decline to 57% good to excellent.  Spring wheat ratings showed
Idaho with a 22% jump to 80% good to excellent while Washington gained 4
points to 69%.  Montana spring wheat dropped 1% to 63% good-excellent.

                                     -Norm Ruhoff  Contributing Analyst

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