Minneapolis, MN Thu Feb 28, 2013 USDA Market News
Minneapolis Weekly Grain Summary
Prices for the week ending Thursday February 28, 2013
**The prices for spring wheat on the spot rail market are now quoted
The milling wheat market was lower this past week. Supplies continued to
extremely limited as the country was more interested in shipping corn and
soybeans. Demand was relatively light as most mills had their needs met from
**Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less
than 2.0 pct Vomitoxin. The 14's was 9.75 cents lower from 9.1175N-9.1675N, the
basis ranged 110N-115N cents over the May futures delivered Chicago/Beyond. The
15's were 9.75 cents lower from 9.1175N-9.1675N; the basis also ranged 110N-115N
cents over the May futures delivered Chicago/Beyond. The 12 pct protein Hard
Red Winter Wheat had no quote on the spot floor. The 20 day to-arrive truck
delivery for 12 pct protein HRW bid into Minneapolis was 9.50 cents lower at
8.1275; the basis was 60 cents over the Kansas City May 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 5 cents higher at 7.10. Feed Barley delivered into Duluth
closed the week with no bid. Feed Barley delivered into Minneapolis was 5 cents
higher with a bid of 5.20.
Corn: US 2 Yellow Corn was 20.75 cents higher at 7.0050, the basis was 3 cents
under the Chicago May futures. The to-arrive bids for corn are: March at
7.0050; April at 7.0650, May at 7.0250 June at 6.8975 and July 6.8675.
Oats: US 2 or better Oats had no quote. The To-arrive bids for oats were 4.25
to 7.25 cents lower from 4.0725-4.7125, the basis ranged 30-40 cents over the
Soybeans: US 1 Yellow Soybeans had no bid until River Open. The to-arrive
bids for soybeans are: April at 14.4825, May at 14.4825, June at 14.3225 and
July at 14.3225.
Sunflowers: The NuSun Sunflowers in Enderlin were 45 cents lower at 22.00;
Fargo was 45 cents lower at 22.05.
FUTURES Mar 13 May 13 Jul 13 Aug 13 Sep 13 Dec 13
Spring: 7.9975 8.0175 8.0775 - - 8.0875 8.1650
HRW 7.4700 7.5275 7.5950 - - 7.7300 7.9000
Wheat 7.0775 7.1450 7.1650 - - 7.2525 7.3950
Corn 7.1950 7.0350 6.8475 - - 5.8275 5.5700
Oats 3.9175 3.7725 3.7125 - - 3.6825 3.6625
Soybeans 14.7425 14.5225 14.3525 13.9175 13.1675 - -
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 9.1175 No Quote 8.4175
14 pct 9.1175N-9.1675N 9.215-9.265 8.4175
15 pct 9.1175N-9.1675N 9.215-9.265N 8.4175
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 4.0725-4.1725
Robust No Quote No Quote 7.1000 - -
US 2 Feed Barley
Mpls 5.20 B 5.15 B 5.2000 - -
US 2 7.005 B 6.7975 B 7.0050 - -
US 1 No Bid B No Bid B - -
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
15:18 c cam