Milling & Baking News - June 9, 2015 - 37

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Soy Products
Soy flour price changes were irregular
last week while soybean meal futures
declined modestly. Trading was brisk,
and demand was steady, with bookings
about two weeks forward. Soy flour saw
good demand as a natural preservative
in seasonally popular hamburger and
hot dog buns. Ongoing consumer interest in gluten-free foods, including soy
flour, also helped support demand.
Soybean futures gyrated last week,
finishing higher despite losses Friday.
Good weather in growing areas moved
prices lower last Monday, but a spate
of short-covering and weakness in the
dollar sent prices higher on Tuesday.
Those gains, in turn, were eroded by a
renewed focus on favorable weather for
both planting and crop development.
Soybean export sales near the top of analysts' expectations gave a boost to soybean prices Thursday. A stronger dollar
pressured soybean futures Friday.
Soybean meal futures tumbled last
Monday but then pared most losses as the
week progressed. Disappointing weekly
export sales had little market impact.
Soybeans in the 18 major states were
71% planted as of May 31 compared with
75% a year ago and 70% as the 2010-14 average for the ate, the U.S. Department of
Agriculture said in its June 1 Crop Progress report. Emergence was 49% in the latest week compared with 46% a year ago
and 45% as the five-year average.
Net export sales of soybeans during the
week ended May 28 were 130,300 tonnes
for 2014-15, down 60% from the previous
week and down 42% from the prior fourweek average, the U.S.D.A. said. Sales
for 2015-16 totaled 347,000 tonnes. Trade
estimates for the combined years ranged

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

+9
+10¼
+10
+10½
+11
+12

+½
+¾
+¼
+¾
+1¼
+1½

4.59
4.56¼
4.57¾
4.67¼
4.73¾
4.79½

+3¾
+5¼
+8¼
+8½
+9
+9¾

+13½
+8¼
+8½
+7¼
+7
+5½

14.57
14.01
12.63¾
12.18¾
12.25
12.30

-.80
-.50
-.10
-.90
-1.00
-.60

+.70
-2.00
-2.20
-3.40
-3.90
-3.90

487.60
461.70
424.10
398.10
394.20
393.00

bakingbusiness.com / world-grain.com

Corn Products
Prices of cornmeal, extruded snacks
and corn-based batters used to make corn
dogs moved up last week amid a seasonal bump in demand and firmer corn
futures prices. Brewers' grits also showed
a seasonal increase in consumption and
mostly steady prices. A corn miller said it
has been hard to sustain most price gains
because of the bearish tone to the corn futures market, which has been on a downward trajectory since February.
Corn futures prices gyrated last week,
ending higher despite a minor setback on
Friday with declines in outside markets.
Short-covering and a weaker dollar were
supportive early last week, as was news
from the U.S. Energy Information Administration indicating ethanol production recently reached a four-month high.
But upward price momentum faded as
the focus turned to favorable growing
conditions in the Corn Belt, where mostly
beneficial rains were in the forecast.
The 2015 corn crop in the 18 major
states was 95% planted as of May 31
compared with 94% a year ago and 94%
as the 2010-14 average, the U.S. Department of Agriculture said. Eighty-four
per cent was emerged in the latest week
compared with 77% a year ago and 79%
as the 2010-14 average. Crop condition
ratings were unchanged from the pre-

vious week with 74% of rated good to
excellent, 23% fair and 3% poor to very
poor, the U.S.D.A. said.
Net export sales of corn in the week
ended May 28 were 464,900 tonnes for
2014-15, down 29% from the previous
week and down 31% from the prior fourweek average. There was a net sales reduction of 54,800 tonnes for 2015-16. Trade
estimates were in the range of 700,000 to
1 million tonnes for the two crop years. MBN

Oats
Food-grade oats flakes prices moved
higher last week in keeping with price
gains in oats futures that reflected overly
dry conditions in the Canadian Prairies.
The U.S.D.A. said 95% of the oats crop
in the nine major states was emerged as
of May 31 compared with 84% a year ago
and 88% as the 2010-14 average. Thirty
per cent of the crop was headed, compared with 32% a year ago and 33% as
the average. Crop conditions declined
slightly in the latest week with 68% rated
good to excellent compared with 70% the
previous week and 10% poor to very poor
compared with 8% the previous week. MBN

Rice
U.S. milled rice and rice byproduct prices were unchanged last week.
Also steady were prices posted by the
U.S.D.A. for world milled rice.
As of May 31, the rice crop was 96%
planted in the six major states compared
with 99% a year ago and 98% as the
2010-14 average, the U.S.D.A. said. Crop
emergence was 90% compared with 88%
a year ago and 87% as the average. Crop
conditions improved modestly with 68%
rated good to excellent compared with
66% the previous week. MBN

Soy products

- Change from - Year
June 5 May 29 May 22 ago
3.60½
3.67½
3.78
3.89
3.96½
4.03
$ per bu
9.37¾
9.24½
9.16
9.14¼
9.21¾
9.26¼
$ per ton
304.90
297.90
294.90
291.70
291.90
291.50

from 250,000 to 500,000 tonnes.
Net export sales of soybean meal in
the week ended May 28 were 53,200
tonnes for 2014-15, down 57% from the
previous week and down 48% from the
four-week average. There was a net sales
reduction of 2,300 tonnes for 2015-16.
Trade forecasts ranged from 150,000 to
300,000 tonnes. MBN

Ingredient Week

Defatted, f.o.b. Midwest plant, $ per cwt
- Change from -
June 5
May 29
May 22
Soy ﬂour
Bulk
25.56 @ 30.30 +.14@ -.04 +.04 @+.04
Sacked
26.56 @ 32.30 +.14@ -.04 +.04 @+.04

Rice
Oﬀers f.o.b. mills, $ per cwt, bagged

- Change from - Year
Cash
June 5
May 29 May 22 ago
Long grain
23.00@24.50
-
- 27.50
Medium grain 27.00@29.50
-
- 32.00
Parboiled
24.50@27/00
-
- 29.50
Second
Corn meal
heads, bulk 17.50@20,00
-
- 22.00
$ per cwt
16.25@19.00
-
- 19.00
- Change from - Brewers
June 5
May 29 May 22 f.o.b. mills, $ per ton
30@40
-
- 65.00
Chicago, bulk
17.31@ 17.98 +.18@+.18 0@ 0 Rice millfeed
70@100
-
- 120.00
Chicago, sacked 19.08@ 19.75 +.18@+.18 0@ 0 Rice bran
5.00
-
- 35.00
New York, bulk 18.98@ 19.65 +.18@+.18 0@ 0 Rice hulls
New York, sacked 21.4@ 22.07 +.18@+.18 0@ 0 U.S.D.A. world price milled - $ per cwt
Long grain
14.93
-
- 17.52
Oats
Medium/short
14.55
-
- 17.18
- Change from - grain
Minneapolis
9.01
-
- 12.00
June 5
May 29 May 22 Broken
C.B.O.T. rough rice futures - $ per cwt
Food grade ﬂakes, f.o.b.,
9.80½
+0.29½ +0.37½ 14.18
bagged, $ per cwt
27.75@28.25 +.75c
+.50c July
September
10.07½
+0.29 +0.37 13.90
Milling quality oats, No. 2 heavy,
10.34
+0.27½ +0.38 14.03
$ per bu
3.09
+25c
+16¼c November
10.59½ +0.27½ +0.37½ 14.17
Oat hulls, $ per ton
25@35
+.75c
+.50c January
Milling & Baking News XJune 9, 2015 / 37

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Milling & Baking News - June 9, 2015

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