MS_GR112
Minneapolis, MN Fri Feb 24, 2012 USDA Market News
Minneapolis Daily BASIS Report
Actual wheat receipts on the exchange floor:
Today's were 48 cars which included 0 trains.
Last year's were 66 cars which included 1 trains.
Minneapolis Grain Exchange Daily Grain Prices Delivered Chicago/Beyond: Spot
No. 1 Milling Northern/Dark Northern Spring Wheat. The spring Wheat 13 to
15 pct basis switched to the May futures.
Current freight spread for unload to Minneapolis is 15 cents; Duluth 22-24
cents.
***PLEASE NOTE: Prices prior to Jan 4, 2010 were for Minneapolis beyond; the
provided freight rate differential to Minneapolis is for Minneapolis unload.
Only the spot wheat/durum rail market is being quoted delivered Chicago/Beyond.
The to-arrive wheat is truck delivered and on a Minneapolis or Duluth based
market.
** The basis is for US 1 Milling Quality Only. Milling Quality is defined as
300 or better Falling Numbers; 58 lbs or better test weight; 13.5 Pct or less
moisture; 1.5 Pct or less Damage; 1.5 Pct or less Dockage and 2.0 ppm or
less vomitoxin**.
RAIL - Spot Change TRUCK
Wheat on MGEX Floor/Delivered Chicago/Beyond 20 Day To-Arrive
US 1 Milling DNS/NS Wheat Mpls Duluth
May BASIS -May
11 Pct No Quote - - - - - -
12 Pct No Quote - - - - - -
13 Pct +104 to +119 no comp +25 - -
14 Pct +114B to +154 no comp +50 - -
15 Pct +205 to +215 no comp +60 - -
16 Pct No Quote - - - - - -
17 Pct No Quote - - - - - -
*Train
Balance Spring Wheat - 13 pct
US 1 No Quote - -
US 2 No Quote - -
US 3 No Quote - -
Balance Spring Wheat - 14 pct
US 1 No Quote - -
US 2 No Quote - -
US 3 No Quote - -
Balance Spring Wheat - 15 pct
US 1 No Quote - -
US 2 +169 no comp
US 3 No Quote - -
*Train
The above Spring Wheat does not meet domestic milling specifications
and is traded at a basis price with market discounts on other grade
factors.
Mpls
US 1 Hard Red Winter Wheat BASIS KC - May
10 Pct No Quote - -
11 Pct No Quote - - +10
12 Pct No Quote - - +60
13 Pct No Quote - - +70
14 Pct No Quote - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.
US 2 Yellow Corn - Mar futures Mpls - Mar
Mpls No Bid - - - -
More corn bids: Apr -23 (K); May -22 (K); Jun -23 (N); Jul -22 (N);
Aug -14 (U); Oct -48 (Z).
US 1 Yellow Soybeans - Jan futures Mpls - Jan
Mpls No Bid - - - -
More soybean bids: Apr -27 (K); May -26 (K); Jun -26 (N); Jul -25 (N);
Aug -45 (Q); Oct -49 (X).
Oats: BASIS -Mar Mpls - Mar
Truck 20 Day To-Arrive
US 2 or Better No Quote - - +20 to +35
Rail 20 Day To-Arrive
+20 to +35
BASIS REPORT SYMBOLS:
January-F; February-G; March-H; April-J; May-K; June-M; July-N;
August-Q; September-U; October-V; November-X; December-Z
Mpls=Minneapolis Dul=Duluth KC=Kansas City N=Nominal R/O=River Open
A=Asked B=Bid NB=No Bid NQ=No Quote NC=New Crop
Source: USDA Market News Service, Minneapolis, MN
Carol Meinders 612-370-3258 Minneapolis.LGMN@ams.usda.gov
24 hour price information 612-370-3260
www.ams.usda.gov/mnreports/MS_GR112.txt
www.ams.usda.gov/lsmarketnews
13:36 c cam
Minneapolis Daily BASIS Report
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