Milling & Baking News - April 30, 2013 - 51


Cash Wheat
HARD WINTER. Premiums on hard
red winter wheat in Kansas City were
5c a bu higher to 10c lower last week.
Adjustments reflected varied mill needs
at the end of the month with some mills
having received all the wheat they
earlier bought on a to-arrive basis for
April delivery and finding they needed
spot supply to fill gaps in pipelines, and
others comfortable with ownership until
shipments for application against May
contracts begin. Mill grind was picking
up, which also was a consideration. The
K.C. July wheat future became the basic
contract at a 6c discount to the May.
In Fort Worth, bids on hard red
winter wheat were 20c over K.C. May
for nearby, unchanged; new crop, 10c
over July. Salina truck bids at terminal
elevators were at the K.C. May, up 10c;
new crop, 5c under July. Hutchinson
elevator bids also were at the K.C. May
price, up 5c; new crop, 5c under July.
May Gulf bids on hard red winter wheat
were firm at 128c over K.C. July.
Farmer selling of hard winter wheat
remained light with most of the 2012 crop
liquidated months ago and the remaining
producer-owned supply in firm hands
until new crop prospects become more
certain. Farmer sales of new crop wheat
also were lacking because of the crop
uncertainties. Elevators weren’t keen on
increasing rail car loadings of old crop
supply as they also had an eye trained on
the status of the new crop.
Yet another week passed without
noticeable improvement in hard winter
wheat condition, according to the latest
U.S. Department of Agriculture Crop
Progress report. The U.S.D.A. indicated
wheat rated good to excellent on April 21
was 30% in Kansas (33% fair, 37% poor
to very poor), 27% in Oklahoma, (37%,
35%), 12% in Texas (28%, 60%), 11% in

No. 1 hard winter
Basis Kansas City July, cents per bu
Apr. 26 — Change from — Year
Premium Apr. 19 Apr. 12
ago
Ordinary 71 @ 86
—
—
25@ 40
11%
83 @ 98
—
—
25@ 40
11.2%
86 @ 101
—
—
32@ 47
11.4%
86 @ 101
—
—
45@ 60
11.6% 100 @ 115 +2@ +2 -1 @ -1 55@ 70
11.8% 102 @ 117 +4@ +4 -2 @ -2 65@ 80
12%
103 @ 118 +2@ +2 +2 @ +2 80@ 95
12.2% 106 @ 121 +5@ +5 +5 @ +5 80@ 95
12.4% 111 @ 126 -5@ -5
-5 @ -5 82@ 97
12.6% 116 @ 131
—
@
85@ 100
12.8% 116 @ 131
—
@
90@ 105
13%
121 @ 136
—
@
90@ 105
13.2% 121 @ 136
—
@
96@ 111
13.4% 126 @ 141
—
@
96@ 111
13.6% 131 @ 146
—
@
133@ 148
13.8% 141 @ 156
—
@
143@ 158
14%
141 @ 156 -10@ -10 -10 @ -10 185@ 200
bakingbusiness.com / world-grain.com

Nebraska (46%, 43%), 9% in Colorado
(35%, 56%), 6% in South Dakota (41%,
53%) and 51% in Montana (37%, 12%).
Temperatures dipped below freezing
across much of the hard winter wheat
region with some snow in western
areas, and another blast of arctic air was
expected this week that may subject the
crop to yet another freeze. It was hoped
the slow development of this year’s crop
because of the cold spring may help
minimize freeze damage.
The U.S.D.A. field office in Kansas
indicated wheat jointing in that state by
April 21 was 43% compared with 96% a
year earlier and 63% as the recent fiveyear average for the date. Recent storms
nibbled away at the expanse of farmland
still in the grip of drought.
HARD SPRING. Premiums on hard
red spring wheat quoted as delivered
Chicago/beyond values in relation to
the Minneapolis July wheat future were
19c a bu higher to 11c lower last week.
The Minneapolis July wheat contract
became the basic future at a 16c discount
to the May.
Snow cover began to recede across
Minnesota, North Dakota and northern
South Dakota, raising hopes spring
planting will accelerate once soils
dry enough to support planters. The
U.S.D.A. indicated spring wheat in the
six key states was 7% planted by April
21 compared with 6% a week earlier, 52%
on same date last year and 24% as the
recent five-year average for the date. No

wheat was planted in North Dakota and
Minnesota. Planting was 59% completed
in Idaho (47% as the average for the date),
6% in Montana (23%), 6% in South Dakota
(40%) and 71% in Washington (55%).
Producers estimated the average
North Dakota fieldwork start date at
May 5 compared with week-earlier
estimate at May 2 and April 3 as the
unusually early start date last year. In
2011, another year with excessive spring
moisture, the average fieldwork start
date was May 7.
SOFT RED. Mill bids on soft red winter
wheat were unchanged to 5c a bu higher
last week. Kansas City bids on No. 1 soft
red wheat remained withdrawn. Gulf
bids on soft red for April were 64c over
Chicago May, up 2c. St. Louis nearby mill
bids were 30c over Chicago May, up 5c.
Chicago mill bids were 25c over Chicago
May, unchanged; new crop, 20c under July.
Mill bids in Toledo for nearby were 10c
under Chicago July; new crop, 10c under
July. Elevator bids were 12c under Chicago
May; new crop, 15c under July. Cincinnati
nearby mill bids were at 15c over Chicago
May, unchanged; new crop, July price.
Elevator bids were 14c over Chicago May;
new crop, 15c under July. Michigan white
wheat mill bids for nearby were 10c under
Chicago May to 15c over; new crop, 5c
under July to 10c over.
Although soft wheat conditions were
rated mostly good to excellent, crop
development as of April 21 lagged the yearearlier pace and the five year average. MBN

No. 1 hard spring

No. 1 hard winter premiums, 12.2%

Basis Minneapolis July, delivered Chicago\beyond cents
per bu
Apr. 26
— Change from —
Year
Premium Apr. 19
Apr. 12
ago
Ordinary
...
...
...
…
11%
...
...
...
…
12%
...
...
...
…
13%
...
...
...
90 @ 100
13.5%
...
...
...
…
14%
115
-11
...
130 @ 135
14.5%
...
...
...
…
15%
135 @ 160 +9 @ +19
…
220 @ 235
16%
...
...
...
…
17%
...
...
...
…

Exporter bids and offers
For
Apr. 26
shipment
Bid
Offer
No. 1 Hard 12%, Track Gulf
Basis Kansas City future, cents per bu
April
…
May
+128 July
…
June
+125 July
135
July
+125 July
135
No. 2 Soft Red, c.i.f. New Orleans
Basis Chicago future, cents per bu
April
+63 May
…
May
+57 May
…
June
+53 July
57
July
+53 July
57

Ingredient Week

Year ago
bid

…
+115 July
+98 July
+98 July

+60
+53
+47
+47

May
May
July
July

Basis Kansas City, cents per bu
150
130
110
90
70
50

Cash wheat
Apr. 26 — Change from —
For shipment
Bid Apr. 19
Apr. 12
No. 1 Soft White, Track, Portland
$ per bu
March
...
...
...
May
...
...
...
June
7.65
-.25
...
No. 1 Hard 11.5%, Track, Portland
Basis Kansas City future, $ per bu
March
1.45
—
—
May
1.30
—
—
June
1.20
—
—
No. 1 Spring 14%, Track, Portland
Basis Minneapolis future, $ per bu
March
1.30
—
+.05
May
1.30
—
+.05
June
1.30
—
—

Year
ago
7.28
7.28
7.23
1.20
1.20
1.05

1.45
1.45
1.45

Milling & Baking News April 30, 2013 / 51
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Milling & Baking News - April 30, 2013

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