Milling & Baking News - May 5, 2020 - 41

n.com

Ingredient Week
Cash Wheat

HARD WINTER. Premiums on hard
red winter wheat in Kansas City were
unchanged to 11¢ a bu lower. The only
adjustments were at 12% and 12.2% proteins. The July KC future became the basic contract at a 9¢ premium to the May.
Country wheat loadings in progress
were slated for application to late-April or
early-May contracts given only light demand for spot supply. The pace for May
applications remained to be seen. "Nobody
has said they want to give me everything
for May tomorrow," a merchandiser said.
Railroad performance was viewed
as adequate, and prices in the secondary freight market were steady with rail
volumes down as much as 25% due to
coronavirus-upended demand patterns.
Agronomists examined the crop for
freeze damage signals after the April
13-17 temperature dip across the Plains
states. The greatest risk for freeze damage
seemed to be in 11 central Kansas counties, with Ness, Rush, Ellis and Barton
counties likely the worst, according to observations reported by Justin Gilpin, chief
executive officer of Kansas Wheat.
Elsewhere in Kansas, wheat around
Colby was said to be badly burned by the
freeze (growing point below ground), but
green tillers were trying to re-emerge.  It
has been very dry in western Kansas, and
wheat there was in dire need of rain. At
least a few far west central Kansas fields
where wheat failed to emerge have been
zeroed out by insurance adjusters, a
wheat merchandiser said.
The US Department of Agriculture
in its weekly Crop Progress report said
wheat rated good-to-excellent on April
26 was 40% in Kansas (46% a week earlier), 62% in Oklahoma (65%), 57% in
Texas (58%), 37% in Colorado (42%), 64%
in Nebraska (69%), 72% in South Dakota
(69%) and 63% in Montana (64%). Winter

No. 1 hard winter
Basis Kansas City July, cents per bu
May 1 - Change from - Year
Premium Apr. 24 Apr. 17
ago
Ordinary 71@ 81
-
-1 @ -1 112 @ 122
11%
81@ 91
-
-2 @ -2 120 @ 130
11.2% 81@ 91
-
-6 @ -6 120 @ 130
11.4% 81@ 91
-
-11 @ -11 120 @ 130
11.6% 96@ 106
-
+3 @ +3 127 @ 137
11.8% 96@ 106
-
-
127 @ 137
12%
105@ 115 -6 @ -6 -11 @ -11 127 @ 137
12.2% 105@ 115 -11 @ -11 -11 @ -11 127 @ 137
12.4% 121@ 131
-
-5 @ -5 127 @ 137
12.6% 126@ 136
-
-
127 @ 137
12.8% 126@ 136
-
-
137 @ 147
13%
136@ 146
-
-10 @ -10 139 @ 149
13.2% 136@ 146
-
-10 @ -10 139 @ 149
13.4% 136@ 146
-
-10 @ -10 139 @ 149
13.6% 136@ 146
-
-10 @ -10 141 @ 151
13.8% 151@ 161
-
-18 @ -18 141 @ 151
14%
151@ 161
-
-18 @ -18 141 @ 151
bakingbusiness.com / world-grain.com

040_MBN_May5_20.indd 41

wheat headed was 2% in Kansas (3% a
year ago, 17% as the 2015-19 average for
the date), 50% in Oklahoma (30%, 53%)
and 68% in Texas (57%, 62%).
Salina spot wheat bids were 5¢ under KC July; new crop, 10¢ under July.
Hutchinson spot wheat bids were 5¢ under KC July; new crop, 10¢ under July.
Wichita elevator bids for nearby were
14¢ under KC July; new crop, the July
price. Gulf bids on 12%-protein hard red
winter wheat were 142¢ over KC July.
HARD SPRING. Premiums on hard red
spring wheat in Minneapolis were 5¢ a
bu higher to 20¢ lower last week in a thin
market susceptible to volatility. The Minneapolis July future became the basic contract at a 15¢ premium to the May. Only
two proteins had quotes at the week's end.
Mills anticipating shipments for application against May contracts didn't press
for supply, and little wheat was offered
for spot purchase.
The attention of producers and country elevators was on planting the 2020
spring wheat, durum and fall row crops.
The USDA indicated spring wheat
planted by April 26 in the six principal
producing states was 14% compared with
7% a week earlier, 11% a year ago and
29% as the 2015-19 average for the date.
Planting was 5% completed in North Dakota (18% as the average for the date), 6%
in Minnesota (30%), 36% in South Dakota
(51%), 61% in Idaho (61%), 11% in Montana (31%) and 88% in Washington (63%).
Jim Peterson of the North Dakota Wheat

No. 1 hard spring

Commission said bearish headwinds will
limit front-end spring wheat sales, unless
planting delays become more prevalent.
He suggested more spring wheat was being planted in the northern Plains than
forecast by the USDA in March. Spring
wheat supply concerns will be minimal.
Spring wheat stocks held in the twin
northern ports of Duluth, Minn., and Superior, Wis., totaled 20,893,000 bus as of
April 26, up 278,000 bus, or 1.3%, from
a week earlier and up 6,685,000 bus, or
47%, from 14,208,000 bus a year earlier.
SOFT RED. Mill bids on soft red winter
wheat remained firm. St. Louis-area bids
on soft red winter wheat through May
were 45¢ over Chicago July; June-July, 40¢
over July. Toledo mill bids through May
were the Chicago July price; June-July, the
July price. Elevator bids for nearby were
5¢ over Chicago May; new crop, the July
price. The Cincinnati elevator new crop
bid was 25¢ over Chicago July. Michigan white wheat mill bids were 10¢ over
Chicago July; new crop 10¢ over July; soft
red wheat mill bids were the Chicago July
price, new crop also the July price. Gulf
bids on soft red winter wheat for nearby
were 58¢ over Chicago July.
The USDA said winter wheat rated
good to excellent on April 26 was 53% in
Missouri (50% a week earlier), 63% in Illinois (68%), 67% in Indiana (67%), 71% in
Ohio (73%) and 51% in Michigan (55%).
Mill runtimes in the Central states increased as the foodservice sector began
to show signs of life. MBN

Basis Minneapolis July, delivered Chicago\beyond cents
per bu May 1
- Change from -
Year
Premium
Apr. 24
Apr. 17
ago
Ordinary
...
...
...
...
11%
...
...
...
...
12%
...
...
...
...
13%
...
...
...
...
13.5%
...
...
...
...
14%
...
...
...
90
14.5%
...
...
...
95
15%
125 @ 150 -20 @ +5
0 @ +15 115 @ 120
16%
80 @ 100
...
...
115
17%
...
...
...
...

Exporter bids and offers

For
shipment

May 1
Bid

Offer

No. 1 Hard 12%, Track Gulf
Basis Kansas City future, cents per bu
May
+142 July
152
June
+149 July
159
July
+151 July
161
August
...
...
No. 2 Soft Red, c.i.f. New Orleans
Basis Chicago future, cents per bu
May
+58 July
65
June
+53 July
58
July
+53 July
58
August
+55 Sep.
60

Year ago
bid

+155 July
+155 July
+155 July
+148 Sep.
+77 July
+70 July
+70 July
+68 Sep.

No. 1 hard winter premiums, 12.2%

Basis Kansas City, cents per bu
200
180
160
140
120
100
M

A

N

F

Cash wheat
May 1 - Change from -
For shipment
Bid Apr. 24 Apr. 17
No. 1 Soft White, Track, Portland
$ per bu
May
6.00
-.17
-.18
June
6.13
-.09
-.10
July
6.17
-.10
-.04
No. 1 Hard 11.5%, Track, Portland
Basis Kansas City future, $ per bu
May
1.25
-
-.50
June
1.25
-
-.45
July
1.25
-
-.45
No. 1 Spring 14%, Track, Portland
Basis Minneapolis future, $ per bu
May
1.17
-.03
-.18
June
1.23
-.02
-.07
July
1.27
-.03
-.08
Milling & Baking News

Year
ago
5.75
5.75
5.75
1.85
1.80
1.75
1.00
0.95
0.90

May 5, 2020 / 41

5/1/2020 3:16:13 PM
http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - May 5, 2020

Table of Contents for the Digital Edition of Milling & Baking News - May 5, 2020
