Minneapolis Daily BASIS Report

MS_GR112
Minneapolis, MN    Mon Feb 11, 2013    USDA Market News

Minneapolis Daily BASIS Report

Actual wheat receipts on the exchange floor:
Today's were 29 cars which included 0 trains.
Last year's were 45 cars which included 0 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.

Current freight spread for unload to Minneapolis is 15-20 cents; Duluth 20-25 
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
           Mar                                   BASIS -Mar
  11 Pct   No Quote            - -               - -        - -
  12 Pct   No Quote            - -               - -        - -
  13 Pct   +100N               unch              +20        - -
  14 Pct   +105 to +110        unch              +20        - -
  15 Pct   +110N to +120N      unch              +20        - -
  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     No Quote            - -
  US 2     No Quote            - -
  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 - Mar       BASIS KC - Mar
  10 Pct   No Quote            - -
  11 Pct   +85N                no comp           +30
  12 Pct   +120N               no comp           +55
  13 Pct   No Quote            - -               +65
  14 Pct   No Quote            - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.

US 2 Yellow Corn - Mar futures                   Mpls - Mar
 Mpls             -11    B     up 1              -11
More corn bids:  Mar -11 (H); Apr -11 (K); May -12 (K); Jun -9 (N);
 Jul -10 (N)  .
US 1 Yellow Soybeans - Mar futures               Mpls - Mar
 Mpls             No Bid       - -               - -
More soybean bids:  Apr -6 (K); May -6 (K); Jun -7 (N); Jul -7 (N);

Oats:             BASIS -Mar                     Mpls - Mar
                                                 Truck 20 Day To-Arrive
 US 2 or Better   No Quote     - -               +25 to +32
                                                 Rail 20 Day To-Arrive
                                                 +25 to +32

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/lpsmarketnewspage


13:05      c  cam

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