Milling & Baking News - May 27, 2014 - 50

Ingredient Week 

Bakery Flour
Bookings of bakery flour were light
last week. Prices declined.
Another week passed without any significant extensions in flour coverage. Bakers seemed to be wary of buying new crop
coverage in a declining market. Wheat futures prices in the past couple of weeks
fell sharply from recent highs posted in
early May. With the hard winter wheat
harvest under way, bakers hoped for
further pressure on futures prices. Also,
once new crop winter wheat begins to
flow into domestic marketing channels,
the cash basis, which has been stubbornly
resilient, may come under pressure.
At the same time, millers cautioned
flour buyers not to fall too far behind.
Lacking at least partial coverage of JulySeptember flour needs may be a risky
proposition given the uncertainties of
wheat crop size and quality.
Most of last week's business comprised filling gaps in June coverage and
making minor additions to third-quarter
ownership. Flour coverage for July-September was estimated at 30% to 35% and
was heavily concentrated in July.
Declining wheat futures prices encouraged at least some bakers to cover
the futures component of prospective
third-quarter flour contracts, but these
same buyers held back in the hope of
seeing cash wheat premiums weaken.
Flour grind was down about one day
last week and is expected to also lose a
day this week due to the holiday weekend. Upper Midwest was near six days,

Bakery ﬂour

Family Flour
Sales of national and regional brands of
family flour were seasonally sluggish last
week. Carlot list prices were unchanged.
The late spring and early summer
months comprise doldrums for the family flour market. No significant increase
in demand was expected until home
bakers become more active with the beginning of a new school year and the approach of the fall baking season.
In the market for private label flour,
most grocers and other buyers earlier
covered their needs through July. Those
who had held back decided to complete
coverage through July.
Coverage beyond July was lacking
with buyers awaiting new crop progress
and the market's response. MBN

Semolina
Bookings of semolina, granulars and
durum flour were light last week. Prices
remained firm.
The price of choice milling hard amber durum at the Chicago gateway was
a nominal $11 a bu with the Minneapolis
price a nominal $10.70. The market was
difficult to define. Durum mills encountering urgent needs for nearby supply
found they had to pay well more than
$11 a bu. But once those needs were met,
market bids drifted lower again. There
seemed to be a pause in what had been
a gradual albeit slight improvement in

rail transportation. Those mills requiring cars to traverse Chicago seemed to
encounter the most difficulties.
At the same time, durum mill grind
overall was softening seasonally. Many
units ran about five days last week and
were expected to run only four days in
the next week because of downtime during the Memorial Day weekend.
New sales of semolina were minimal, and coverage for the third quarter
remained only about 25%. Most pasta
manufacturers were inclined to await
new crop and transportation developments before making extensive commitments to forward coverage.
The North Dakota durum crop was
14% planted by May 18 compared with
32% a year earlier and 41% as the recent
five-year average for the date. One per
cent of the crop had emerged compared
with 4% a year earlier and 19% as the
five-year average. The Montana crop
was 49% planted compared with 23% a
week earlier, 37% a year ago and 57% as
the five-year average. Emergence was
11% compared with 15% as the average.
The Arizona durum crop was 95%
heading on May 18 compared with 96%
as the five-year average for the date. The
crop was rated 86% good to excellent,
11% fair and 3% poor. MBN

Bakers standard, Kansas City
Bulk, f.o.b. car, $ per cwt
$23.00
$21.00
$19.00

No. 1 hard amber durum

Bulk, f.o.b. car, $ per cwt
- Change from - Year
May 23 May 16 May 9 ago
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

Southwest and Central states at five-plus
and Northeast at four. MBN

Track, Chicago
- Change from - Year
$ per bu
May 23 May 16 May 9 ago
Choice milling 13% 11.00
-
-
10.30

$17.00
$15.00
M

Previous Year

19.95
19.85
14.00
...

-0.35
-0.35
-
...

-1.35
-1.35
-
...

19.90
19.80
14.00
...

Track, Minneapolis
$ per bu

19.50
19.40
22.40
19.40
19.75
19.25
19.15
23.15

-0.40
-0.40
-0.40
-0.40
-0.40
-0.40
-0.40
-0.10

-1.15
-1.15
-1.15
-1.15
-1.15
-1.15
-1.15
-

19.15
19.05
22.05
19.05
19.40
18.90
18.80
22.25

Bulk, f.o.b. Minneapolis, $ per cwt
- Change from -
May 23 May 16 May 9
Semolina
26.40
-.10
-
Granulars
26.20
-.10
-
Flour
26.10
-.10
-
First clear
17.55
-
-
Second clear 13.50
-
-
Semolina - N.Y. 29.20
-.10
-

15.90
17.40

-0.60
-0.60

-1.65
-1.65

16.20
17.70

22.35
21.30
24.30
19.40
25.65

-0.35
-0.65
-0.65
-0.60
-0.10

-1.35
-1.45
-1.45
-1.65
-

22.30
22.15
25.15
19.70
24.75

25.25
25.30

-0.35
-0.35

-1.35
-1.35

25.80
24.85

50 / May 27, 2014 Milling & Baking News

Choice milling 13% 10.70

Current Year

Spring standard, Minneapolis
-

10.00

Bulk, f.o.b. car, $ per cwt
$25.00

Semolina

$23.00

Year
ago
24.40
24.20
24.10
17.50
13.00
27.10

Nationally advertised family ﬂour

$21.00
$19.00
$17.00
$15.00
M

N
Previous Year

F
Current Year

Cracker ﬂour, Chicago
Bulk, f.o.b. car, $ per cwt
$22.00

Dollars
May 23
Family patent, 2-25s papers 24.12
4-10s
n.a.
8-5s
18.52
18-2s
20.64
Self-rising
n.a.

$20.00

Year ago
24.12
n.a.
18.52
20.64
n.a.

$18.00
$16.00
$14.00
$12.00
M

N
Previous Year

F
Current Year

bakingbusiness.com / world-grain.com

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

Milling & Baking News - May 27, 2014

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