Minneapolis, MN Thu Jun 27, 2013 USDA Market News
Minneapolis Weekly Grain Summary
Prices for the week ending Thursday June 27, 2013
**The prices for spring wheat on the spot rail market are now quoted
The milling wheat market was mixed this past week. Supplies continued to be
seasonally light on the exchange floor.
**Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less
than 2.0 pct Vomitoxin. The 14's were 4.00 to 9.00 cents higher from 9.1300N-
9.2300B, the basis was 15 to 20 cents higher from 130N-140B over the September
futures delivered Chicago/Beyond. The 15's were 6.00 to 11.00 cents lower from
9.3300-9.5300, the basis was steady to 5 cents higher from 150-170 over the
September futures delivered Chicago/Beyond. The 12 pct protein Hard Red Winter
Wheat was 8.8600 with the basis 184 cents over the September Kansas City futures
delivered Chicago. The 20 day to-arrive truck delivery for 12 pct protein HRW
bid into Minneapolis was 36.00 cents lower at 7.8700; the basis was steady at 85
cents over the Kansas City September futures.
Durum: Choice and Balance Milling Durum had no quote. Both Minneapolis and
Duluth terminal durum continued to have no quote.
Rye: US 1 Rye had no quote on the spot market. The to-arrive Rye had no bid.
Barley: Robust Malting Barley 60 pct or better plump max. 2.0 ppm vomitoxin
had no quote. The to-arrive bid for 1.0 ppm vomitoxin rail delivered to
Minneapolis was steady at 7.00. Feed Barley delivered into Duluth closed the
week with no bid. Feed Barley delivered into Minneapolis was 10 cents lower
with a bid of 4.95.
Corn: US 2 Yellow Corn was 14.00 cents lower at 6.8625 with the basis 8 cents
lower at 19 cents over the July futures. The to-arrive bids for corn are: July
6.7825; August at 6.2725; October at 4.9450; November at 5.0150 and River Open
Oats: US 2 or better Oats had no quote on the spot market. The To-arrive bids
for oats were 9.25 cents lower from 4.0550-4.1550, the basis was steady from 20-
30 cents over the July futures.
Soybeans: US 1 Yellow Soybeans were 62.00 cents higher at 15.6250 with the
basis 11 cents higher at 14 cents over the July futures. The to-arrive bids for
soybeans are: July at 15.5950; October at 12.4725; November at 12.5125 and River
Open at 12.3425.
FUTURES Jul 13 Aug 13 Sep 13 Nov 13 Dec 13 Mar 14
Spring: 7.8650 - - 7.8300 - - 7.9125 8.0475
HRW 6.8650 - - 7.0200 - - 7.2275 7.3700
Wheat 6.6350 - - 6.7375 - - 6.8900 7.0300
Corn 6.6725 - - 5.7225 - - 5.3850 5.4925
Oats 3.8550 - - 3.7775 - - 3.7375 3.7675
Soybeans 15.4850 14.3250 13.1775 12.7525 - - 12.7400
Cash Market Delivered 20 day truck
This Week Last Week
Wheat on MGEX Floor/Delivered Chicago/Beyond Mpls Duluth
US 1 Milling DNS/NS Wheat
13 pct 8.93N-9.13 9.09N-9.24B 8.1800
14 pct 9.13N-9.23B 9.09-9.14N 8.2800
15 pct 9.33-9.53 9.39-9.64N 8.2800
Choice MillingNo Quote No Quote - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.
ThisLast Week Mpls Duluth
Rye, US 1 No Quote No Quote - - - -
US 2 or Btr No Quote No Quote 4.055-4.155
Robust No Quote No Quote 7.0000 - -
US 2 Feed Barley
Mpls 4.95 B 5.05 B 4.9500 - -
US 2 6.8625 B 7.0025 B 6.7825 - -
US 1 15.625 B 15.005 B 15.5950 - -
N = Nominal; A = Ask; B = Bid
Source: USDA Market News Service, Minneapolis, MN
Carol Meinders 612-370-3258 Minneapolis.LGMN@ams.usda.gov
24 hour price information 612-370-3260
14:47 c cam
Minneapolis, MN Weekly Grain Review
- Green milk returns in time for St. Patrick’s Day
- Ag markets ended Tuesday in mixed fashion once again.
- Bill would keep farmer’s private information private
- Land availability top young farmer concern
- USDA expands support for small, mid-sized farmers and ranchers
- DHM Markets/Marketers: CWT sales, dairy cattle auctions