Minneapolis, MN Daily Cash Grain Report

MS_GR110
Minneapolis, MN    Wed May 16, 2012    USDA Market News

Minneapolis Daily CASH Grain Report
  Est Early Morning Receipts Rail
                       May 16           Year Ago
  Wheat                     38             40
  Durum                     50             9
  Barley                     0             0

Actual wheat receipts on the exchange floor:
Today's were 145 cars which included 3 trains.
Last year's were 70 cars which included 0 trains.

Minneapolis Daily Exchange Grain Prices Delivered Chicago/Beyond: Spot
No. 1 Northern/Dark Northern Spring Wheat 13 to 15 pct protein wheat was
9.50 to 14.50 cents higher from 8.7500N-9.8500.  The Spring Wheat basis
was steady to 5 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.

NOTE: The 13.5 and 14.5 pct protein category will be added on days when it can
more clearly represent the value of the 14's.

Prices Reflect No. 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     Dul
  11 Pct   No Quote                - -                   - -     - -
  12 Pct   No Quote                - -                   - -     - -
  13 Pct     8.7500N               up 9.5              8.0000    - -
  14 Pct     9.0000  -9.3000  B    up 14.5             8.2500    - -
  15 Pct     9.4000  -9.8500  N    up 9.5              8.3500    - -
  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       9.3000                no comp
  US 3     No Quote                - -
Balance Spring Wheat - 15 pct
  US 1     No Quote                - -
  US 2       9.1000B*-9.6000       no comp
  US 3     No Quote                - -
 *Train
The Balance Spring Wheat does not meet domestic milling specifications
and is traded at a basis price with market discounts on other grade
factors.
US 1 Hard Red Winter Wheat                              Mpls
  10 Pct   No Quote                - -
  11 Pct   No Quote                - -                 6.6600
  12 Pct   No Quote                - -                 7.1600
  13 Pct   No Quote                - -                 7.2600
  14 Pct   No Quote                - -

Milling Durum:     0  Cars traded with 0 at the Top
 Choice MilNo Quote                - -
 Balance MiNo Quote                - -
 Terminal -No Quote                - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.

           RAIL - Spot             Change             TRUCK-To-Arrive
Rye:                                                    Mpls
 US 1 PlumpNo Quote                - -                   - -
 US 2      No Quote                - -                   - -

Barley:
 US 2 Feed
 Dul       No Quote                - -                  - -
 Mpls        5.3000B               unch                5.3000

US 2 Yellow Corn
 Mpls        6.1800B               up 23.75            6.1500
More corn bids:  Jul 6.04; Aug 5.32; Sep 4.86; Oct 4.7725;
 Nov 4.8025 Apr 4.97.

US 1 Yellow Soybeans
 Mpls     13.8900  B               up 13             13.9700
More soybean bids:  Jul 13.99; Aug 13.7225; Sep 12.6525; Oct 12.5925;
 Nov 12.6625; Apr 12.0575.

Oats:                                                 TRUCK 20 Day To-Arrive
 US 2 or Better                                        3.5250 -  3.6750
           No Quote                - -                RAIL 20 Day To-Arrive
                                                       3.5250 -  3.6750
Malting Barley - 2.0 ppm or less vomitoxin
 Robust   70 Pct Btr Plump
           No Quote                - -                 7.0000**

**To-Arrive Malting barley is Rail delivered Minneapolis for 1.0 ppm
   vomitoxin with discounts to apply.
                 Mpls=Minneapolis  Dul=Duluth  N=Nominal  R/O= River Open
                  A=Asked  B=Bid   NB=No Bid   NQ=No Quote   NC=New Crop

Apr 2012 AVERAGES
Average prices are for spot market unless otherwise denoted.
MGEX wheat/Delivered Chicago/Beyond
 No 1 DNS Wheat       13% protein  8.9986
                      14% protein  9.6275
                      15% protein  10.1245
 No 1 Hard Amber Durum             No Quote
Minneapolis Based Price
 Rye                  Spot         No Quote
                      To-Arrive    No Quote
 No 2 Yellow Corn                  6.1250
 No 2 Heavy Oats                   3.5475            (20 Day To-Arrive Average)
 No 3 or better Malting Barley     7.0350            (20 Day To-Arrive Average)
 No 2 Feed Barley                  5.1800
 No 1 Yellow Soybeans              14.1540

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_GR110.txt
          www.ams.usda.gov/lsmarketnews


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