Milling & Baking News - March 29, 2016 - 48

Ingredient Week X

Bakery Flour
Bookings of bakery flour were limited
last week. Price adjustments were minor.
Flour prices remained historically attractive, but elevated deferred basis levels and
low millfeed prices discouraged many bakers from taking a more aggressive stance.
With the end of the month approaching, a number of bakers covered basis
and/or millfeed to wrap up additional
contracts for April-June before leaving
offices for the Easter weekend.
In most instances, bakers covered the
futures component of second-quarter and
even third-quarter flour contracts some
time ago. But millfeed prices were weak
through the third quarter and were almost
about $35@40 a ton lower than a year ago
for delivery positions from April through
December. The cash hard winter wheat
market was in a carry (anywhere from 5c
to 20c a bu) even into the new crop year.
The combination of lower millfeed prices
and the carry in the cash market kept
many bakers on the sidelines.
Also making for a quiet market was
broad participation of wholesale bakers
and millers at the annual meeting of the
American Bakers Association in Phoenix
March 20-23.
Bakers' commitments to April-June
flour contracts (comprising completed
bookings and component positions committing bakers to flour contracts with
particular suppliers) increased to 70% to
80% with spring grade users holding the
most extensive coverage, soft flour users the least and with pan bread bakers

Bakery ﬂour
Bulk, f.o.b. car, $ per cwt
Kansas City
Bakers short patent
Bakers standard patent
Second clear
Third clear
Minneapolis
Spring short patent
Spring standard patent
High gluten
Whole wheat
Specialty whole wheat
Fancy spring clear
First spring clear
Rye, white
Chicago
Cracker
Fancy cake
New York
Winter/spring blend
Spring standard patent
High gluten
Fancy cake
Rye, white
Los Angeles
Bakers standard patent
Pastry

in between. Completed contracts for the
quarter were about 60% of the potential.
Mill grind ranged from four to five days
during the holiday-shortened week. MBN

Family Flour
Sales and shipments of national and
regional brands of family flour were
routine last week. Carlot list prices were
unchanged.
With orders for Easter filled earlier,
shipments reverted to the routine. Home
baking won't provide much of a boost to
the family flour market until late summer in advance of a new school year.
In the market for private label flour,
most grocers, mass merchandisers, club
stores and other buyers earlier booked
their flour requirements through July.
There was inquiry indicated for AugustSeptember, but this failed to result in any
significant bookings.
Family flour volume continued to lag
behind that seen a year ago. One major
grocery chain indicated its sales of family flour in the past 12 months were down
as much as 10% compared with the same
span a year earlier. MBN

Semolina
Bookings of semolina, granulars and
durum flour expanded modestly last
week. Prices were raised as the cash durum market strengthened.
The price of choice milling hard amber
durum as quoted at the Chicago gateway for delivery beyond was $8.40 a bu,
up 25c a bu from the previous week. The

upward adjustment followed trades at
$8.25 a bu the previous week and $8.50
last week. The durum market remained
much weaker than a year earlier, when
prices were $3.30 a bu higher. The Minneapolis price was raised to $8.10 a bu.
Canadian durum was not offered in significant volumes with most shipments
from the Canadian Prairies comprising
supply contracted earlier.
Durum millers estimated pasta makers' semolina coverage for April-June
was between 75% and 80%. There also
were some bookings for July-September
indicated, but overall coverage for the
third quarter remained limited.
Pasta manufacturers and durum millers during the recent annual meeting of
the National Pasta Association were told
an expansion in durum plantings in both
North Dakota and Montana was expected this spring with the additional acres
coming at the expense of spring wheat.
Meanwhile, the Arizona durum crop
was 90% emerged by March 20 compared with 80% a week earlier, 94% on
the same date a year ago and 49% as the
recent five-year average.
Durum mill grind averaged four days
last week because of holiday downtime.
Grind was expected to bounce back to
six days a week following Easter. MBN

Bakers standard, Kansas City
Bulk, f.o.b. car, $ per cwt
$22.00
$20.00
$18.00
$16.00

No. 1 hard amber durum
Track, Chicago
- Change from - Year
- Change from - Year $ per bu
Mar. 24 Mar. 18 Mar. 11 ago
Mar. 24 Mar. 18 Mar. 11 ago Choice milling 13% 8.40
+.25
+.25 11.75
13.65
13.55
12.00
...

-0.05
-0.05
-
...

-0.20
-0.20
-
...

15.85 Track, Minneapolis
15.75 $ per bu
13.00 Choice milling 13% 8.10
...

13.70
13.60
16.60
13.60
13.95
13.45
13.35
20.15

0.05
0.05
0.05
0.05
0.05
0.05
0.05
0.10

-0.10
-0.10
-0.10
-0.10
-0.10
-0.10
-0.10
0.20

17.50
17.40
20.40
17.40
17.75
17.25
17.15
22.75

12.85
14.35

0.05
0.05

-0.15
-0.15

12.65
14.15

16.05
15.60
18.60
16.35
22.65

-0.05
0.05
0.05
0.05
0.10

-0.20
-0.20
-0.20
-0.15
0.20

18.25
19.65
22.65
16.15
25.25

18.45
18.50

-0.05
-0.05

-0.20
-0.20

20.75
20.80

48 / March 29, 2016 XMilling & Baking News

$14.00
$12.00
M

J

S
Previous Year

D
Current Year

Spring standard, Minneapolis
+.25

+.25

11.45

Bulk, f.o.b. car, $ per cwt
$28.00

Semolina

Bulk, f.o.b. Minneapolis, $ per cwt
- Change from -
Mar. 24 Mar. 18 Mar. 11
Semolina
20.90
+.65
+.75
Granulars
20.70
+.65
+.75
Flour
20.60
+.65
+.75
First clear
16.00
...
...
Second clear 12.00
...
...
Semolina - N.Y. 23.70
+.65
+.75

$24.00

Year
ago
28.55
28.35
28.25

$20.00
$16.00
$12.00
M

J

S
Previous Year

31.35

Nationally advertised family ﬂour

D
Current Year

Cracker ﬂour, Chicago
Bulk, f.o.b. car, $ per cwt
$21.00

Dollars
Mar. 24
Family patent, 2-25s papers 24.12
4-10s
n.a.
8-5s
18.52
18-2s
20.64
Self-rising
n.a.

$19.00

Year ago
24.12
n.a.
18.52
20.64
n.a.

$17.00
$15.00
$13.00
$11.00
$9.00
M

J

S
Previous Year

D
Current Year

bakingbusiness.com / world-grain.com
http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - March 29, 2016

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