Milling & Baking News - January 30, 2018 - 43

Ingredient Week

Soy Products
Spot soy flour prices were raised last
week in keeping with gains in soybean
meal futures. Demand from bakers and
food manufacturers remained strong.
Soybean and soybean meal futures
traded higher last week. U.S. soybean
futures began the week climbing to
a five-week high in buying fueled by
steep gains in soybean meal. Commodity Weather Group early last week said
a quarter of Argentina's crops were
stressed spurring a rally that was briefly
derailed mid-week after a surprising
weather report reversed earlier forecasts
and called for increased and badly-needed precipitation in Argentina's growing
areas. In Brazil, the early crop's harvest
was slightly behind the normal pace, but
a large crop was expected, and the optimal second crop planting period extends
about 30 days.
Informa Economics lowered its forecast for 2018 U.S. soybean plantings to
91.197 million acres, still a potential record high.
In its Outlook for Principal Field
Crops report, Agriculture and Agri-Food
Canada estimated supplies of Canadian
soybeans for 2017-18 at a record 8.3 million tonnes, a 12% increase from the previous year. Canadian soybean exports
were forecast at 5.6 million tonnes, up
24% for the year.
Net export sales of U.S. soybeans in the
week ended Jan. 18 were 616,300 tonnes
for 2017-18, down 50% from the previous
week and down 24% from the prior fourweek average, the U.S. Department of
Agriculture said. Sales of 143,100 tonnes
were reported for 2018-19. Sales for the
combined crop years were below trade
estimates that ranged from 775,000 to

Chicago corn and soy futures
Corn Futures
$ per bu
March
May
July
September
December
March
Soybeans
March
May
July
August
September
November
Soybean Meal
March
May
July
August
September
October

Corn Products
Prices of cornmeal and other corn
products were raised last week in sync
with corn futures. Corn grits sales were
seasonally strong as an ingredient in
snacks popular with football fans in the
run-up to Super Bowl LII this weekend.
Corn futures traded higher. A South
Korean corn buying spree Jan. 20-21 was
consistent with improved Asian interest
in corn over recent weeks, which could
contribute to an improved export pace
into the second half of the marketing
year. The Argentina Agriculture Ministry lowered its estimate of planted area
for 2017-18 to 8.7 million hectares from
8.8 million previously.
Informa Economics lowered its forecast for 2018 U.S. corn plantings to 89.179
million acres.
Agriculture and Agri-Food Canada
forecast an increase in total supply of
Canadian corn for 2017-18 of 4% to 17.3
million tonnes in its latest report. If realized, that would set a record.
The U.S.D.A. reported net export
sales of 1,445,900 tonnes of U.S. corn for

Rice
U.S. milled rice and rice byproduct
prices were unchanged last week, the
U.S.D.A. said. World milled rice prices
were 33@55c a cwt higher.
Net export sales of U.S. rice in the
week ended Jan. 18 were 32,600 tonnes
for 2017-18, down 20% from the previous
week and down 33% from the prior fourweek average, the U.S.D.A. said. MBN

Rice

Defatted, f.o.b. Midwest plant, $ per cwt
- Change from -
Jan. 26
Jan. 19
Jan. 12
Soy Flour
Bulk
26.09 @ 27.08 +.21@ +.20 +.94 @+.93
Sacked
27.09 @ 29.08 +.21@ +.20 +.94 @+.93

+4
+4¼
+4¼
+4¼
+3¾
+3¾

+10¼
+10¼
+10½
+10
+9
+8¾

3.62½
3.69¾
3.76½
3.83
3.89¼
3.96¾

+8¼
+8½
+8¼
+8½
+7
+6¾

+25
+25
+25¼
+25
+21¾
+19¼

10.49¼
10.58¾
10.65½
10.62¾
10.43½
10.25¼

Jan. 26
Chicago, bulk
15.60@ 15.95
Chicago, sacked 17.37@ 17.72
New York, bulk 17.27@ 17.62
New York, sacked 19.69@ 20.04

+4.10
+3.70
+3.30
+2.90
+2.70
+3.00

+18.70
+18.00
+17.30
+16.10
+14.90
+13.80

343.00
346.00
348.10
345.50
342.40
335.70

Midwest
Jan. 26
Food grade ﬂakes, f.o.b.,
bagged, $ per cwt
26.50@27
Milling quality oats, No. 2 heavy,
$ per bu
3.06
Oat hulls, $ per ton
25@35

bakingbusiness.com / world-grain.com

Oats
Food-grade oat flakes prices were
steady last week. Consumer demand for
hot breakfast cereals with oats remained
seasonally strong, as did snack foods
containing oats, which are high in soluble fiber and recommended for people
with diabetes and heart disease.
In its latest report, Agriculture and
Agri-Food Canada forecast a 7% increase
in total supply of Canadian oats for
2017-18 as the higher production more
than offset the lower carryover stocks.
Oat grain and product exports to the
United States were forecast to increase
3%. If realized, that would be the highest
level since 2009. A 32% increase in carryover stocks was forecast. For 2018-19,
a 2% increase in seeded area and a 1%
increase in production were forecast. MBN

Soy products

- Change from - Year
Jan. 26 Jan. 19 Jan. 12
ago
3.56½
3.65
3.73¼
3.80¾
3.89½
3.98½
$ per bu
9.85½
9.97
10.06½
10.08¾
10.04¼
10.02¾
$ per ton
335.70
338.80
340.90
340.40
339.60
337.60

2017-18 during the week ended Jan. 18,
down 22% from the previous week, but
up 59% from the prior four-week average. Net export sales for 2018-19 were
85,100 tonnes. Sales for the combined
crop years were well above trade estimates that ranged from 850,000 tonnes
to 1.3 million tonnes.
Private exporters reported export sales
for 2017-18 of 250,000 tonnes of corn for
delivery to unknown destinations. MBN

1.3 million tonnes. Private exporters last
week reported export sales for 2017-18 of
130,000 tonnes of soybeans for delivery
to unknown destinations.
The U.S.D.A. said net export sales
of soybean cake and meal in the week
ended Jan. 18 were 223,100 tonnes for
2017-18, down 21% from a week earlier,
but unchanged from the prior four-week
average. Sales were within trade estimates that ranged from 150,000 tonnes
to 375,000 tonnes. Private exporters reported export sales of 132,000 tonnes of
soybean cake and meal for 2017-18 delivery to the Philippines. MBN

Corn meal
$ per cwt
- Change from -
Jan. 19
Jan. 12
.07@.08 .20@.20
.07@.08 .20@.20
.07@.08 .20@.20
.07@.08 .20@.20

Oats
- Change from -
Jan. 19 Jan. 12
-

+8c
-

+16½c
-

Oﬀers f.o.b. mills, $ per cwt, bagged
- Change from - Year
Cash
Jan. 26
Jan. 19 Jan. 12 ago
Long grain
24.50@27.50
-
- 20.25
Medium grain 27.00@30.50
-
+2 21.50
Parboiled
25.50@27.50
-
- 22.50
Second
heads, bulk 16.00@18.00
-
+1 15.00
Brewers
15.00
-
- 13.50
f.o.b. mills, $ per ton
Rice millfeed
40.00
-
- 45.00
Rice bran
110.00
-
- 90.00
Rice hulls
5.00@8.00
-
- 10.00
U.S.D.A. world price milled - $ per cwt
Long grain
16.81
+0.55 +0.77 13.50
Medium/short
grain
16.42
+0.57 +0.76 13.13
Broken
10.14
+0.33 +0.46
8.14
C.B.O.T. rough rice futures - $ per cwt
March
12.33½
0.13 0.52½
9.81
May
12.57
0.12
0.49 10.06½
July
12.75½
0.10½ 0.44½ 10.27½
September
11.77½
-0.03½ 0.09½ 10.43
Milling & Baking News

January 30, 2018 / 43

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

Milling & Baking News - January 30, 2018

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