Milling & Baking News - August 27, 2019 - 57

Ingredient Week

Cash Wheat
HARD WINTER. Premiums on hard red
winter wheat in Kansas City were 20c a
bu higher to 17c a bu lower last week.
Declines were confined to wheat with
protein of 11.4% and lower and to wheat
with protein from 12% through 12.2%.
Premiums on high-protein wheat, from
13% through 14%, advanced 20c a bu,
reflecting the scarcity and value of high
protein in a low-protein wheat year. The
basis across the rest of the protein scale
was unchanged and largely untested.
Wheat pipelines have become "jammed,
with too many cars around," according to
one merchandiser. Rail service has been
mostly current with schedules, and applications to contracts have been timely,
curbing mill interest in drawing spot offers
from the country, for the time being.
Business in to-arrive wheat was limited.
The U.S. Department of Agriculture in
its weekly Crop Progress report, for winter wheat states where combining continued, indicated the harvest by Aug. 18
was 97% completed in Colorado (100%
as the five-year average for the date),
69% in Montana (91%), 96% in Nebraska
(100%) and 76% in South Dakota (95%).
Plains Grains, Inc., in its end-of-theweek harvest update issued Aug. 23, put
Nebraska and Colorado in the combining completed category and indicated
the South Dakota harvest was 91% completed and the Montana harvest was 80%
completed ahead of the weekend. Should
weather permit, the harvest in those states
may be completed in the next week.
P.G.I. said recent rain in harvest areas
seemed not to have lowered test weights,
and yields remained strong. Protein in
Montana harvest wheat was averaging
between 11.5% and 12%.
No additional new crop samples were
analyzed last week. To date, based on 408
of 500 intended samples, P.G.I. indicated

No. 1 hard winter
Basis Kansas City Sept., cents per bu
Aug. 23 - Change from -
Premium Aug. 16 Aug. 9
Ordinary 85@ 95 -17 @ -17 -10 @ -10
11%
88@ 98 -15 @ -15 -13 @ -13
11.2% 90@ 100 -13 @ -13 -15 @ -15
11.4% 118@ 128 -3 @ -3
+3 @ +3
11.6% 121@ 131
-
+6 @ +6
11.8% 121@ 131
-
-
12%
126@ 136 -4 @ -4
-4 @ -4
12.2% 126@ 136 -4 @ -4
-4 @ -4
12.4% 130@ 140
-
-
12.6% 160@ 170
-
-
12.8% 160@ 170
-
-
13%
180@ 190 +20 @ +20 +20 @ +20
13.2% 180@ 190 +20 @ +20 +20 @ +20
13.4% 180@ 190 +20 @ +20 +20 @ +20
13.6% 180@ 190 +20 @ +20 +20 @ +20
13.8% 180@ 190 +20 @ +20 +20 @ +20
14%
180@ 190 +20 @ +20 +20 @ +20
bakingbusiness.com / world-grain.com

Year
ago
105 @120
135 @150
135 @150
135 @150
135 @150
135 @150
135 @150
135 @150
135 @150
135 @150
135 @150
150 @165
150 @165
150 @165
150 @165
150 @165
150 @165

the 2019 hard red winter wheat was averaging 11.2% in protein (12.3% last year)
and 60.4 lbs in test weight (61.1 lbs in
2018). The average grade was No. 1 hard
red winter, the same as in 2018.
Salina spot wheat bids were 15c under
K.C. Sept. Hutchinson spot wheat bids
were 10c under K.C. Sept. Wichita elevator bids for nearby were 5c under K.C.
Sept. Gulf bids on 12%-protein hard red
winter wheat for nearby were 170c over
K.C. Sept., up 5c.
HARD SPRING. Premiums on hard red
spring wheat in Minneapolis were 5c a
bu higher to 5c lower last week. The relatively steady tone to the basis reflected
a balance between supply and demand.
The basis was not much different from
that of a year ago. Producers and country elevators increasingly directed their
attention to harvesting, transporting and
storing wheat from the 2019 harvest.
The U.S.D.A. indicated the spring
wheat harvest in the six key producing
states was 16% completed by Aug. 18
compared with 56% a year ago and 49%
as the recent five-year average for the
date. Combining was 12% completed in
North Dakota (43% as the average for
the date), 14% in Minnesota (55%), 27%
in South Dakota (75%), 20% in Montana
(44%), 27% in Idaho (47%) and 25% in
Washington (64%). Harvesting lagged the
normal progress because of late planting
and ongoing intermittent rain delays.
The Minneapolis Grain Exchange said
spring wheat stocks in the Lake Superior

ports of Duluth, Minn., and Superior, Wis.,
increased to 15,360,000 bus on Aug. 18, up
310,000 bus from a week earlier and compared with 16,136,000 bus a year ago.
Agriculture and Agri-Food Canada on
Aug. 21 projected Canadian wheat except
durum production in 2019 at 27,400,000
tonnes, up 400,000 tonnes from the July
outlook and up 1,376,000 tonnes, or 5%,
from 26,024,000 tonnes in 2018. The upward adjustment to the production forecast reflected a higher projected yield as
the A.A.F.C.'s estimates for planted and
harvested areas were unchanged.
SOFT RED. Mill bids on soft red winter
wheat remained firm. St. Louis-area mill
bids were 40c over Chicago Sept., unchanged; October-December, 45c over
Dec. The Chicago mill, scheduled for
closure, had no bid. Toledo mill bids for
nearby were 20c over Chicago Sept.; August-September, 20c over Sept. Elevator
bids for nearby were 20c over Chicago
Sept. Cincinnati elevator bid was 10c under Chicago Sept. Michigan white wheat
mill bids were 35@40c over Chicago Sept.;
soft red wheat mill bids were 25@30c over
Sept. Gulf bids on soft red winter for nearby were 68c over Chicago Sept., up 1c.
The basis for milling-quality soft red
winter wheat was expected to remain
firm because of a short crop with subpar
quality in many areas.
The U.S.D.A. in its weekly Crop Progress
report indicated the winter wheat harvest
was 95% completed in Michigan versus
99% as the recent five-year average. MBN

No. 1 hard spring

No. 1 hard winter premiums, 12.2%

Basis Minneapolis Sept., delivered Chicago\beyond cents
per bu Aug. 23
- Change from -
Year
Premium Aug. 16
Aug. 9
ago
Ordinary
...
...
...
...
11%
...
...
...
...
12%
...
...
...
...
13%
85
+35 @ +25
+25
70 @ 75
13.5%
80
...
+5
85
14%
70 @ 110 -30 @ +10 -5 @ +33
90
14.5%
75 @ 80
+5 @ 0
+5 @ +5
80
15%
80 @ 120 -10 @ 0
-15 @ +10 71 @ 105
16%
...
...
...
...
17%
...
...
...
...

Exporter bids and offers
For
shipment

Aug. 23
Bid

Offer

No. 1 Hard 12%, Track Gulf
Basis Kansas City future, cents per bu
August
+170 Sep.
178
September
+170 Sep.
178
October
+160 Dec.
170
November
+160 Dec.
170
No. 2 Soft Red, c.i.f. New Orleans
Basis Chicago future, cents per bu
August
+68 Sep.
75
September
+79 Sep.
85
October
+80 Dec.
87
November
+80 Dec.
87

Year ago
bid

+130 Sep.
+135 Sep.
+130 Dec.
+140 Dec.

+50 Sep.
+60 Sep.
+60 Dec.
+65 Dec.

Basis Kansas City, cents per bu
222
182
142
102
62
A

N

F

M

Cash wheat
Aug. 23 - Change from -
For shipment
Bid Aug. 16 Aug. 9
No. 1 Soft White, Track, Portland
$ per bu
August
5.60
-
-.08
September
5.80
-.10
-.13
October
5.80
-.10
-.16
No. 1 Hard 11.5%, Track, Portland
Basis Kansas City future, $ per bu
August
1.25
-
-
September
1.55
+.05
+.10
October
1.45
+.05
+.10
No. 1 Spring 14%, Track, Portland
Basis Minneapolis future, $ per bu
August
0.75
-
-
September
0.80
-
-
October
0.75
-
-
Milling & Baking News

Year
ago
6.10
6.14
6.17
...
1.00
1.10
...
0.85
0.80

August 27, 2019 / 57
http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - August 27, 2019

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