Milling & Baking News - September 6, 2011 - 42

Ingredient Week 

Bakery Flour
Bakery flour bookings were light last week. Prices declined in volatile trading. Bookings were limited to nearby “clean-up” transactions as well as a scattering of millfeed coverage for OctoberDecember taken by component buyers of flour, locking in extremely strong millfeed values. Some futures coverage in January-March 2012 was taken Friday. The limited sales volume stood in marked contrast to intensive interactions between buyers and sellers over the course of the week. Millers said phones were ringing steadily as bakers inquired about markets day after day. While interested in opportunities to extend contract balances, few bakers felt pressing needs for nearby positions. Roughly 50% of prospective needs for OctoberDecember already have been covered, and about 15% of January-March 2012 needs have been booked. Millers said coverage for the date was greater than usual. Still, forward coverage was not uniform among all classes. Particularly light were booked balances of soft flour users, many of whom were said to have been awaiting a major market downturn at harvest that never took place. Depending on how the market turns in the days ahead, there were expectations a significant amount of coverage by cookiecracker and specialty manufacturers for October-December could be taken by mid-September. Some buyers appeared to be looking for a price break with the

“second harvest,” as growers and elevators make room for corn and soybeans by selling soft red winter wheat. Flour grind declined last week and was expected light this week due to the threeday holiday weekend. The exception was the Central states where some mills ran up to seven days. But grind in most regions averaged five to 5½ days last week. MBN

Family Flour
Sales of national and regional brands of family flour were light last week. Shipping directions were brisk as retail orders have begun to pick up with the start of the school year in many areas and the impending arrival of the holiday key baking season. The lack of bookings reflected the well covered status of most retailers. Virtually all major supermarket buyers have covered prospective needs through the end of December. A scattering of interest was indicated for January-March coverage, but bookings for the forward time period have yet to materialize. MBN

Semolina
Bookings of semolina, granulars and durum flour were at a near standstill last week. The lack of activity was hardly a surprise given durum miller estimates that pasta makers have covered well over 75% of prospective needs through the end of December. With durum harvest gaining momentum across North Dakota, millers and pasta makers grappled with the impli-

cations of a 2011 crop greatly reduced by poor weather. While noting that the Canadian crop should offer some relief, there was speculation noodle makers may blend or substitute spring grades in significantly higher levels than usual. This expectation was fueled by the unusually wide price spread between durum and high-protein spring wheat. Still, shipping directions were brisk last week, and millers said overall views of pasta demand prospects tended to be optimistic for the months ahead. The North Dakota durum crop was 13% harvested by Aug. 28 compared with 2% a week earlier and 49% as the recent five-year average for the date, according to the U.S. Department of Agriculture’s field office in the state. Eighty-two per cent of the crop was turning color compared with 59% a week earlier and 95% as the average for the date. The condition of the North Dakota durum crop was rated 63% good to excellent (71% a week earlier), 30% fair and 7% poor. Montana durum was 16% harvested by Aug. 28 compared with 48% as the recent five-year average, according to that state’s U.S.D.A. field office. Seventy-nine per cent of the crop was turning color compared with 77% a week earlier and 93% as the average for the date. MBN

Bakers standard, Kansas City
Bulk, f.o.b. car, $ per cwt
$26.00 $23.00 $20.00 $17.00 $14.00 $11.00 S D M Previous Year J Current Year

Bakery ﬂour
Bulk, f.o.b. car, $ per cwt Kansas City Bakers short patent Bakers standard patent Second clear Third clear Minneapolis Spring short patent Spring standard patent High gluten Whole wheat Specialty whole wheat Fancy spring clear First spring clear Rye, white Chicago Cracker Fancy cake New York Winter/spring blend Spring standard patent High gluten Fancy cake Rye, white Los Angeles Bakers standard patent Pastry — Change from — Year Sept. 2 Aug. 26 Aug. 19 ago 20.45 20.35 12.50 5.80 21.45 21.35 24.35 21.35 21.70 21.20 21.10 21.10 17.25 18.75 22.85 24.15 27.15 20.75 23.60 25.35 24.20 -0.25 -0.25 — — -0.35 -0.35 -0.35 -0.35 -0.35 -0.35 -0.35 -0.40 -0.30 -0.30 -0.25 -0.45 -0.45 -0.30 -0.40 — — -0.05 -0.05 — — -1.85 -1.85 -1.85 -1.85 -1.85 -1.85 -1.85 -0.65 0.25 0.25 -0.05 -1.90 -1.90 0.25 -0.65 1.30 0.05

No. 1 hard amber durum
Track, Minneapolis $ per bu Choice milling 13% cents per bu 18.25 Amber discount 18.15 Durum discount 12.50 Pufﬁng premium 5.80 Sept. 2 14.45 10.00 10@40 0 — Change from — Year Aug. 26 Aug. 19 ago — -.25 6.45 — — — — — — 10.00 10@40 0

Spring standard, Minneapolis
Bulk, f.o.b. car, $ per cwt
$33.00 $29.00

Semolina

19.05 18.95 21.95 18.90 19.30 18.80 18.70 15.00 17.60 19.10 20.65 21.70 24.70 21.10 17.50 20.70 21.15

Bulk, f.o.b. Minneapolis, $ per cwt — Change from — Sept. 2 Aug. 26 Aug. 19 Semolina 34.45 -.25 -1.05 Granulars 34.25 -.25 -1.05 Flour 34.15 -.25 -1.05 First clear 17.85 — — Second clear 12.50 — — Semolina - N.Y. 37.15 -.25 -1.05

Year ago 16.20 16.00 15.90 12.55 10.50 18.90

$25.00 $21.00 $17.00 $13.00 S D M Previous Year J Current Year

Cracker ﬂour, Chicago
Bulk, f.o.b. car, $ per cwt
$22.00 $18.00 $14.00 $10.00 S D M Previous Year J Current Year

Nationally advertised family ﬂour
Dollars Sept. 2 Family patent, 2-25s papers 24.12 4-10s n.a. 8-5s 18.62 18-2s 20.64 Self-rising n.a. Year ago 22.50 18.25 18.40 21.76 +88c per bale

42 / September 6, 2011 Milling & Baking News

bakingbusiness.com / world-grain.com

http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - September 6, 2011

Table of Contents for the Digital Edition of Milling & Baking News - September 6, 2011