Pacific NW Wheat Basis Report

JO_GR111
Portland, OR    Tue  May 01, 2012    USDA Market News

Pacific NW Wheat Basis Report:  Hard red winter wheat and dark northern
spring wheat basis at midday for Portland delivery.

Futures closes:
Chicago Soft Red Winter Wheat            Change
Jul             CN            6.4300     dn 11.5
Kansas City Hard Red Winter              Change
May            KCK            6.4550     dn 3.75
Jul            KCN            6.5700     dn 5
Sep            KCU            6.7250     dn 5.5
Dec            KCZ            6.9525     dn 6
Minneapolis Hard Red Spring              Change
May            MNK            7.6700     dn 11.25
Jul            MNN            7.7425     dn 9.25
Sep            MNU            7.7475     dn 8
Dec            MNZ            7.7775     dn 7.25
Midday basis for Soft White Wheat - delivered by Unit Trains and Barges
Basis                                    Change        Cash Bids     Change      Futures
May        62 to 72 mostly 72       +CN  up 6-11       7.05-7.15     dn 6-1      6.4300 N
Jun        57 to 72                 +CN  up 11         7.00-7.15     dn 1
-
Midday basis for Ordinary percent protein US 1 Hard Red Winter Wheat
Basis                                    Change        Cash Bids     Change      Futures
May        5 to 20 mostly 13        +KCN unch          6.62-6.77     dn 5        6.5700 N
-
Midday basis for 11.5 percent protein US 1 Hard Red Winter Wheat
Basis                                    Change        Cash Bids     Change      Futures
May        95 to 110 mostly 99      +KCN unch          7.52-7.67     dn 5        6.5700 N
Jun        90 to 100                +KCN unch          7.47-7.57     dn 5
FH Jul     50 to 90                 +KCN unch          7.07-7.47     dn 5
LH Jul     50 to 70                 +KCN unch          7.07-7.27     dn 5
Aug NC     40                       +KCU unch          7.13          dn 5        6.7250 U
Sep        40 to 45                 +KCU unch          7.13-7.18     dn 5
-
Midday basis for 14 percent protein US 1 Dark Northern Spring Wheat
Basis                                    Change        Cash Bids     Change      Futures
May        140 to 145 mostly 143    +MNN unch          9.14-9.19     dn 10       7.7425 N
Jun        135 to 145               +MNN unch          9.09-9.19     dn 10
Jul 1-10   115 to 135               +MNN up 5-unch     8.89-9.09     dn 5-10
Jul 11-20  115 to 135               +MNN up 5-unch     8.89-9.09     dn 5-10
Jul 21-31  110 to 125               +MNN unch-dn 10    8.84-8.99     dn 10-20
Aug 1-10   95 to 115                +MNU unch          8.70-8.90     dn 8        7.7475 U
Aug 11-20  95 to 110                +MNU unch          8.70-8.85     dn 8
Aug 21-31  95 to 105                +MNU unch          8.70-8.80     dn 8
Sep        95 to 100                +MNU unch          8.70-8.75     dn 8
-

Kansas City Board of Trade/Minneapolis Grain Exchange/Chicago Board of Trade (C)
month symbols: H-March, K-May, N-July, U-September and Z-December

Source:    USDA Market News Portland, OR
           Niki Davila 503-326-2237 Portland.LGMN@ams.usda.gov
           www.ams.usda.gov/mnreports/JO_GR111.txt
           www.ams.usda.gov/lsmarketnews

11:54      P nd

1. Beef bull management refresher
2. Beef research and resources update
3. Workshop to discuss nutrient application, management, stewardship
4. Help for flood affected farmers
5. Representative Lucas discusses new Farm Bill
6. U.S. May consumer sentiment highest in nearly 6 years

1. New school lunch beef recipes win approval from kids, foodservice
2. Prices for corn and soybeans, five years from now
3. Drier weather to give big boost to U.S. corn plantings
4. Agriculture is expected to remain strong in the coming decade
5. The relationship between retail gasoline prices and futures prices
6. What sick day? Farmers take just three a year

1. Insects. They’re what’s for dinner!
2. Tyson selects panel to monitor animal welfare program
3. World food supply depends on character, virtuous leadership
4. Commentary: Slanting the statistics
5. Buffet concerned about soil and starvation
6. Cold spring stunts upper Midwest hay crop