Milling & Baking News - January 29, 2008 - 37

Ingredient Week

Bakery Flour

Bookings of bakery flour were limited
last week. Price changes were erratic
day-to-day as wheat futures prices roller-coastered through the week.
Market volatility discouraged most
bakers from booking more than fill-ins
for February-March. At the same time,
there were minor additions to April-June
ownership in each grade of flour. One
miller suggested the week's business
was so light it failed to offset grind. Firstquarter pan bread flour coverage was estimated at 70% completed, and secondquarter needs were said to be about 40%
booked, reflecting only slight gains.
Activity in the component markets
was subdued, although there was minor basis-only booking in both pan
bread flour and spring standard patent
markets for April-June. One miller also
pointed to individual bakers locking in
millfeed credits for the period.
Bakers in recent weeks were fairly active booking at least the basis for the final quarter of the marketing year. They
sought some assurance of supply meeting their specifications for the several
weeks remaining before new crop wheat
becomes available to the market.
Bakers using rye flour encountered
mills withdrawing offers. Rye supplies
were tight. Mill bids failed to draw out
whatever supply remained in the country. One miller said he was telling rye
flour buyers he was able to meet contractual obligations but was not in a position to book additional material into

Bakery flour

April-June without more rye sales by
producers.
Flour grind was mixed last week. Southwest mills averaged less than five days,
with some at four. Upper Midwest mills ran
nearly five days, Central states close to six
and Southeast units just over five. Northeast grind varied but averaged around six
days. California mills ran six to 6½ days
and Pacific Northwest near 6½. MBN

Family Flour

Sales of national and regional brands
of family flour were seasonally sluggish.
There were changes in pricing. Indications were General Mills raised its carlot
list prices for the first time since August.
Individual manufacturers of regional
brands of family flour also either made
upward adjustments to their list prices
or were preparing to do so. The scale of
the price adjustments should be known
shortly. Price hikes were widely expected because of the extended period of historically high wheat prices.
January sales of family flour were better than expected but still much below
the December volume. Sales were expected to decrease further in February
and remain in the doldrums for the next
several months, except for the traditional
upturn in the weeks before Easter.
Most buyers of private label flour were
covered through June. MBN

Semolina

advanced and approached $54 a cwt.
The cash price of choice milling hard
amber durum in Minneapolis rose 25c,
to $21.75 a bu. Some mills' quotes were
as high as $22 a bu. In the absence of
trading, it was difficult to find consensus. But traders agreed there was a carry
in the market equating to about 25c per
month through July.
The Canadian Wheat Board continued
to offer milling durum held in store in
Thunder Bay at the equivalent of $22.15
a bu. The only Canadian durum moving
to U.S. mills was against contracts negotiated long ago. Spot sales of durum to
the U.S. were lacking.
Pasta manufacturers earlier covered
nearly all of their first-quarter semolina
requirements. Coverage for April-June
varied by manufacturer, with some lacking coverage, some with April needs
booked and yet others with nearly 80% of
their prospective needs through June on
contract. Some buyers maintained hope
prices could give back some ground, but
supplies will only tighten in the next few
months before new crop, so no broad setback in pricing was expected.
Durum mill grind held up well, sustained by continued good demand for pasta products despite the price environment.
Mills ran up to six days last week. MBN

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

Bookings of semolina, granulars and
durum flour were light last week. Prices

No. 1 hard amber durum

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

Track, Minneapolis
- Change from - Year
- Change from - Year $ per bu
Jan. 25 Jan. 18 Jan. 11 ago
Jan. 25 Jan. 18 Jan. 11 ago Choice milling 13% 21.75
+.25
+1.50 6.20
Kansas City
cents per bu
Bakers short patent
25.40
-0.40
2.00 12.60 Amber discount
10
-
-
10
Bakers standard patent 25.30
-0.40
2.00 12.50 Durum discount
10@40
-
- 10@40
Second clear
12.00
-
-
7.00 Puffing premium
0
-
-
0
Third clear
5.80
-
-
5.80
Semolina
Minneapolis
Spring short patent
31.05
2.00
5.10 12.35 Bulk, f.o.b. Minneapolis, $ per cwt
- Change from - Year
Spring standard patent 30.95
2.00
5.10 12.25
Jan. 25
Jan. 18 Jan. 11
ago
High gluten
31.95
2.00
5.10 15.25
53.80
+.55
+3.65
15.55
Whole wheat
30.95
2.00
5.10 12.25 Semolina
53.60
+.55
+3.65
15.35
Specialty whole wheat 31.30
2.00
5.10 12.60 Granulars
53.50
+.55
+3.65
15.25
Fancy spring clear
30.80
2.00
5.10 12.10 Flour
40.35
+.40
+2.75
12.00
First spring clear
30.70
2.00
5.10 12.00 First clear
-
-
7.30
Rye, white
32.50
...
... 10.70 Second clear 10.25
Semolina - N.Y. 56.20
+.55
+3.65
17.85
Chicago
Cracker
22.10
-0.80
0.40 11.30
Nationally advertised family flour
Fancy cake
23.60
-0.80
0.40 12.80
Dollars
New York
Jan. 25
Year ago
Winter/spring blend
27.80
-0.40
2.00 15.00
Family patent, 2-25s papers 16.05
15.36
Spring standard patent 33.55
2.40
5.55 14.80
4-10s
13.78
13.00
High gluten
34.55
2.40
5.55 17.80
8-5s
13.96
13.36
Fancy cake
25.60
-0.80
0.40 14.80
18-2s
15.66
15.66
Rye, white
35.00
...
... 13.20
Self-rising
+88c per bale +88c per bale
Los Angeles
Bakers standard patent 26.60
-0.10
0.30 15.30
Pastry
38.75
0.75
5.00 15.25
38 / January 29, 2008

Milling & Baking News

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

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

bakingbusiness.com / world-grain.com

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Milling & Baking News - January 29, 2008

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