Milling & Baking News - October 20, 2009 - 35



 Cash Wheat

HARD WINTER. Premiums on hard red
winter wheat in Kansas City advanced
5@22c a bu across the bottom two-thirds
of the protein scale. The basis on highprotein wheat was unchanged and mostly untested. The widest gains applied to
ordinary to 11.8% protein.
Demand for hard winter wheat was
observed from resellers, mills and exporters. The demand was tinged with
an increasing sense of urgency evident
among those concerned that when the
momentum of the fall crop harvest finally increases, wheat movement may drop
off sharply. Resellers in particular were
concerned about being caught short of
supply required to meet their commitments to mills. The Gulf market for hard
winter wheat continued to firm reflecting recent foreign demand amid ideas
the declining dollar may further pique
foreign interest in U.S. wheat. It was noted some demand identified as Gulf demand might be from terminal elevators
in Texas seeking wheat to store given the
drought-reduced crop in that state and
in Oklahoma.
While new flour sales were light last
week, individual mills purchased wheat
for January-March flour commitments.
Farmer selling was evident, but enthusiasm for sales waned as wheat futures prices declined after midweek.
Both winter wheat planting and the
fall row crop harvest made only minimal
progress across the region because of unseasonably cold and wet weather.
Planting of the 2010 hard winter
wheat crop on Oct. 11 was 70% completed in Kansas (versus 74% as the recent
five-year average for the date), 68% in
Oklahoma (71%), 64% in Texas (66%),
92% in Nebraska (93%), 90% in Colorado (95%), 87% in South Dakota (91%)
and 90% in Montana (90%), according

No. 1 hard winter
Basis Kansas City December, cents per bu
Oct. 16 - Change from - Year
Premium Oct. 9
Oct. 2
ago
Ordinary -18 @ -3 +12@ +12 +22 @ +22 -35 @ 0
11%
-15 @ 0 +13@ +13 +10 @ +10 -10 @ 5
11.2% -15 @ 0 +8@ +8 +5 @ +5 10 @ 25
11.4%
10 @ 25 +22@ +22 +18 @ +18 15 @ 30
11.6%
10 @ 25 +18@ +18 +15 @ +15 22 @ 37
11.8%
13 @ 28 +15@ +15 +13 @ +13 30 @ 45
12%
24 @ 39 +5@ +5 +9 @ +9 38 @ 53
12.2%
24 @ 39 +5@ +5 +9 @ +9 39 @ 54
12.4%
24 @ 39 +5@ +5 +7 @ +7 39 @ 54
12.6%
24 @ 39 +5@ +5 +7 @ +7 39 @ 54
12.8%
24 @ 39 +5@ +5 +7 @ +7 46 @ 61
13%
28 @ 43
-
+11 @ +11 51 @ 66
13.2%
28 @ 43
-
+4 @ +4 51 @ 66
13.4%
29 @ 44
-
-
53 @ 68
13.6%
34 @ 49
-
-
53 @ 68
13.8%
39 @ 54
-
-
57 @ 72
14%
44 @ 59
-
-
57 @ 72
bakingbusiness.com / world-grain.com

to the U.S. Department of Agriculture.
Wheat emergence was 38% in Kansas
(versus 42% as the average for the date),
48% in Oklahoma (44%), 39% in Texas
(39%), 67% in Nebraska (73%), 64% in
Colorado (75%), 56% in South Dakota
(60%) and 51% in Montana (51%).
The U.S.D.A. indicated the corn harvest by Oct. 11 was 40% completed in
Kansas (versus 67% as the average for
the date), 82% in Texas (85%), 10% in Nebraska (24%) and 28% in Colorado (25%).
The soybean harvest was 37% completed
in Kansas (44% as the average) and 45%
in Nebraska (61%).
HARD SPRING. Premiums on hard red
spring wheat in Minneapolis dropped
5@55c a bu last week. There were no
quotes on 15%-protein wheat at the
week's end. The basis was under tremendous pressure from wheat shipments encountering plugged mill and
exporter pipelines. Indications were the
wheat inventory at export elevators in
Duluth was up to around 19 million bus.
The slow progress in the fall crop harvest allowed producers and elevators
ample time to market and ship wheat.
Merchandisers said the Minneapolis
wheat market "needs a break," but until
the country's full attention is directed toward the soybean and corn harvest, the
wheat flow was expected to continue.
Fall crop harvest progress remained
well behind the average pace. The
U.S.D.A. indicated the soybean harvest
on Oct. 12 was 17% completed in North

Dakota (68% as the average for the date),
25% in South Dakota (56%) and 26% in
Minnesota (66%).
SOFT RED. Mill bids on soft red winter
wheat were mostly unchanged to stronger. In Kansas City, No. 1 soft red bids
held at 50c under K.C. December to the
K.C. December price. Gulf bids on soft
red for nearby advanced 3c, to 20c under
Chicago December. St. Louis mill bids
advanced 5c a bu, to 5c under Chicago
December. Chicago mill bids for nearby
held at 60c under Chicago December.
Mill bids in Toledo for nearby advanced
10c, to 70c under Chicago December; November, 50c under; December, 45c under.
Elevator bids were 95c under December.
Cincinnati mill bids declined 5c, to 85c
under Chicago December. Elevator bids
were 120c under December. Michigan
white wheat mill bids ranged up to 120c
over Chicago December.
Rain and wintry weather moved across
the Central states early in the week, temporarily bringing winter wheat planting
and fall row crop harvesting to a halt.
Winter wheat planting by Oct. 11 was
11% completed in Arkansas (15% as the
five-year average for the date), 13% in
Missouri (28%), 12% in Illinois (43%),
13% in Indiana (44%), 39% in Ohio (53%),
35% in Michigan (61%) and 6% in North
Carolina (7%). Wheat emergence was 7%
in Arkansas (4% as the average), 5% in
Missouri (9%), 5% in Illinois (9%), 1% in
Indiana (10%), 4% in Ohio (13%) and 19%
in Michigan (21%). MBN

No. 1 hard spring

Cash wheat

Milling quality, basis Minneapolis December, cents per bu
Oct. 16 - Change from -
Year
Premium
Oct. 9
Oct. 2
ago
Ordinary
...
...
...
...
11%
...
...
...
...
12%
...
...
...
...
13%
-30
-5 @ -25
-10@ -23
50
13.5%
20 @ 40
-5 @ -5
0@ +5
60
14%
55
-25 @ -55
-25@ -40 70 @ 95
14.5%
130
...
-40@ -70
...
15%
...
...
...
175 @ 230
16%
...
...
...
...
17%
...
...
...
...

Exporter bids and offers
For
Oct. 16
shipment
Bid
Offer
No. 1 Hard 12%, Track Gulf
Basis Kansas City future, cents per bu
October
+70 Dec.
...
November
+72 Dec.
84
December
+78 Dec.
84
January
+69 March
74
No. 2 Soft Red, c.i.f. New Orleans
Basis Chicago future, cents per bu
October
-20 Dec.
-10
November
-10 Dec.
5
December
-5 Dec.
5
January
-10 March
0

Ingredient Week

Year ago
bid

...
+90 Dec.
+92 Dec.
+82 March

-45
-45
-45
-60

Dec.
Dec.
Dec.
March

Oct. 16 - Change from - Year
For shipment
Bid
Oct. 9
Oct. 2
ago
No. 1 Soft White, Track, Portland
$ per bu
Nearby
...
...
...
...
October
...
...
...
...
November
4.67
+.07
+.22
...
No. 1 Hard 11.5%, Track, Portland
Basis Kansas City future, $ per bu
Nearby
...
...
...
...
October
...
...
...
...
November
0.30
-.13
-.13
...
No. 1 Spring 14%, Track, Portland
Basis Minneapolis future, $ per bu
Nearby
1.70
-
+.25
1.35
October
1.70
-
+.25
1.35
November
1.75
-
+.30
1.35

Canadian domestic milling wheat
Change from Year
In-store, Thunder Bay,
Oct. 16
Oct. 9
ago
Canadian $ per tonne
Western red spring 13.5% 231.52
-3.65
310.72
Soft white spring
202.32
+6.98
262.82
Amber durum
234.76
-.80
564.75
U.S. $ per bu
Western red spring 13.5%
6.07
-0.07
7.15
Soft white spring
5.30
0.20
6.05
Amber durum
6.15
-
13.00
Milling & Baking News October 20, 2009 / 35
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Milling & Baking News - October 20, 2009

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