Minneapolis, MN Thu May 23, 2013 USDA Market News
Minneapolis Weekly Grain Summary
Prices for the week ending Thursday May 23, 2013
**The prices for spring wheat on the spot rail market are now quoted
The milling wheat market was mixed this past week. Most mills have their needs
met from prior contracts. Farmers are continuing to focus on spring planting.
**Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less
than 2.0 pct Vomitoxin. The 14's were 0.75 cents lower to 14.25 cents higher
from 9.0825N-9.1325N, the basis was 10 cents lower to 5 cents higher from 95N-
100N cents over the July futures delivered Chicago/Beyond. The 15's were 14.25
to 24.25 cents higher from 9.2325B-9.3325A, the basis was 5 to 15 cents higher
from 110B-120A cents over the July futures delivered Chicago/Beyond. The 12 pct
protein Hard Red Winter Wheat on the spot floor was 8.00 cents higher at 9.0500,
the basis was 3 cents lower at 150 cents over the Kansas City July futures. The
20 day to-arrive truck delivery for 12 pct protein HRW bid into Minneapolis was
11.00 cents higher at 8.3950; the basis was steady at 85 cents over the Kansas
City July 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 10 cents lower at 6.60. Feed Barley delivered into Duluth
closed the week with no bid. Feed Barley delivered into Minneapolis was 5 cents
lower with a bid of 4.98.
Corn: US 2 Yellow Corn was 34.50 cents higher at 7.0000 with the basis 14 cents
higher at 38 cents over the July futures. The to-arrive bids for corn are:
first/half June 6.9300; last/half June 6.8800; July 6.9000; October at 4.9075
and November at 4.9675.
Oats: US 2 or better Oats had no quote on the spot market. The To-arrive bids
for oats were 7.50 to 17.50 cents lower from 3.8025-4.0025, the basis was steady
to 10 cents lower from 10-30 cents over the July futures.
Soybeans: US 1 Yellow Soybeans were 20.00 cents higher at 15.2250 with the
basis 52 cents lower at 23 cents over the July futures. The to-arrive bids for
soybeans are: first/half June 15.2250; last/half June at 15.1650; July at
14.9850; October at 12.1200 and November at 12.1900.
FUTURES Jul 13 Aug 13 Sep 13 Nov 13 Dec 13 Mar 14
Spring: 8.1325 - - 8.0500 - - 8.1175 8.2425
HRW 7.5450 - - 7.6150 - - 7.7850 7.9150
Wheat 7.0325 - - 7.0975 - - 7.2300 7.3750
Corn 6.6200 - - 5.6350 - - 5.3475 5.4550
Oats 3.7025 - - 3.6500 - - 3.6350 3.6875
Soybeans 14.9950 14.1450 12.9950 12.4300 - - 12.5275
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 No Quote No Quote 8.3825
14 pct 9.0825N-9.1325N 8.94-9.14 8.4825
15 pct 9.2325B*-9.3325A* 9.09* 8.4825
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 3.8025-4.0025
Robust No Quote No Quote 6.6000 - -
US 2 Feed Barley
Mpls 4.95 B 5.00 B 4.9500 - -
US 2 7.00 B 6.655 B 6.9300 - -
US 1 15.225 B 15.025 B 15.2250 - -
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
15:02 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