MS_GR112
Minneapolis, MN Thu May 31, 2012 USDA Market News
Minneapolis Daily BASIS Report
Actual wheat receipts on the exchange floor:
Today's were 62 cars which included 0 trains.
Last year's were 101 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 was steady to 40 cents higher.
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
Jul BASIS -Jul
11 Pct No Quote - - - - - -
12 Pct No Quote - - - - - -
13 Pct +130 to +135 up 35 - 40 +40 - -
14 Pct +145 to +170N unch +65 - -
15 Pct +180A to +235N unch +75 - -
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 +210 no comp
US 2 +155B up 10 - dn 15
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 - Jul BASIS KC - Jul
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 - Jul futures Mpls - Jul
Mpls -9 B up 5 -9
More corn bids: Jul -21 (N); Aug -10 (U); Sep -53 (U); Oct -53 (Z);
Nov -50 (Z); Apr -49 (K).
US 1 Yellow Soybeans - Jul futures Mpls - Jul
Mpls -28 B dn 4 -28
More soybean bids: Jul -24 (N); Aug -27 (Q); Sep -34 (X); Oct -47 (X);
Nov -38 (X); Apr -54 (K).
Oats: BASIS -Jul Mpls - Jul
Truck 20 Day To-Arrive
US 2 or Better No Quote - - +15 to +28
Rail 20 Day To-Arrive
+15 to +28
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
13:20 c cam
Minneapolis Daily BASIS Report
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