Milling & Baking News - April 4, 2023 - 61

CHICAGO CORN AND SOY FUTURES
- Change from -
Mar. 31
Corn Futures $ per bu
May
July
September
December
March
May
August
September
November
January
August
September
October
December
Mar. 24
5.77¼
5.74
Soybeans $ per bu
May
July
+13
+8
+5
Mar. 17
6.60½ +17½ +26¼
6.36
+4
Year
ago
7.35
+18¼ 7.21¾
+8½
6.96
5.66½ +6¼ +5¼ 6.88
6.90½
5.78½ +4¼ +3¼ 6.91¼
15.05½ +77¼
+29 15.82¾
14.75½ +69¼ +14¼ 15.66¾
14.21¾ +60¾
13.47¾ +50
+3
+7
Soybean Meal $ per ton
May
July
15.31¾
- 14.52¾
13.19¾ +46½ +6¼ 14.06¾
13.25¼ +45½
14.05¾
466.00 +20.90
461.30
450.20
+19.70
+17.70
435.70 +15.40
423.20
419.80
+12.70
+11.80
+2.10
- 450.00
442.80
+4.20 435.00
+6.20
421.20
+6.00 405.20
+5.40
403.30
Soy Products
Bookings of soy flour were limited last
week. Prices jumped.
Most major soy flour buyers, including
bakers and pet food manufacturers, had
their needs covered through the first half
of the year with some contracts extending
through December. Many held off extending
contracts further until plantings intentions
from the US Department of Agriculture
were released at the end of the week.
Soy complex futures rose steadily in
most sessions with soybean futures rising
sharply after the release of USDA's Prospective
Plantings report on March 31 that
indicated only a slight increase in intended
planted soybean acres for this year.
The USDA said farmers intend to plant
87,505,000 acres to soybeans this spring, up
0.1% from 2022 and near the lower end of
the range of pre-report trade estimates. The
USDA said planted acreage intentions were
up or unchanged in 15 of the 29 soybeangrowing
states while other states reported
a decrease in acres. Planted area in Illinois,
Nebraska, New York, Ohio and Wisconsin
will be the largest on record if intensions are
realized.
The USDA in its quarterly Grain Stocks
report, also issued March 31, said March 1
soybean stocks in all positions totaled 1.69
billion bus, down 13% from March 1, 2022.
The USDA in its weekly Export Sales
report said net export sales of soybean cake
and meal in the week ended March 23 for
delivery in 2022-23 were 377,900 tonnes, up
noticeably from the previous week and up
81% from the prior four-week average. In the
same week, net export sales of soybeans for
delivery in 2022-23 were 348,200 tonnes,
also up sharply from a week earlier and up
36% from the prior four-week average. MBN
bakingbusiness.com
Midwest
Food grade flakes, f.o.b.,
bagged, $ per cwt
Oat hulls, $ per ton
Chicago, bulk
SOY PRODUCTS
Mar. 31
Mar. 24
Soy flour
Bulk
Sacked
Defatted, f.o.b. Midwest plant, $ per cwt
- Change from -
Mar. 17
42.40 @ 44.40 +1.05 @ +1.05 -.85 @ -.85
46.40 @ 48.40 +1.05 @ +1.05 -.85 @ -.85
CORN MEAL
- Change from -
Mar. 31
Mar. 24
Mar. 17
26.80 @ 27.05 .35 @ .35 .53 @ .53
Chicago, sacked 28.57 @ 28.82 .35 @ .35 .53 @ .53
New York, bulk
New York, sacked 30.89 @ 31.14
$ per cwt
28.47 @ 28.72 .35 @ .35 .53 @ .53
.35 @ .35 .53 @ .53
OATS
- Change from -
Mar. 31
44.00@45.00
Milling quality oats, No. 2 heavy,
$ per bu
Mar. 24
-
4.24¼ -4¼c
25@35
-
Corn Products
Sales and shipments of corn meal and
other dry corn mill products were steady
last week. Prices moved higher.
Despite a somewhat bearish Prospective
Plantings report for corn, corn futures
continued to advance after the release of
the data, widening its gains for the week in
nearby contracts. The USDA said farmers
indicated they intend to plant 91,996,000
acres to corn this year, up 3.9% from 2022
and near the high side of the range of prereport
trade expectations.
The USDA in its weekly Export Sales
report said net export sales of corn in the
week ended March 23 for delivery in 202223
totaled 1,036,400 tonnes, down 67% from
the prior week and down 34% from the previous
four-week average. China accounted
for more than half of the sales.
In four separate transactions, China purchased
a total of 630,800 tonnes of US corn
for delivery during the 2022-23 marketing
year, according to the USDA's 24-hour
Foreign Agricultural Service reporting
system. MBN
Oats
Bookings of food-grade oat flakes and
other milled oat products were limited last
week. Prices were unchanged.
Mills stayed busy filling seasonal orders
against contracts from breakfast cereal
manufacturers. New business continued to
be on hold until this season's planting prospects
were better defined.
The USDA in its March 31 Prospective
Plantings report said producers intend
to plant 2,667,000 acres to oats this
spring, up 3.3% from 2022. If realized, US
planted area will be the fifth lowest on
record with record low planted acreage
Mar. 17
-
+16¼c
-
both whole kernel and broken rice were
wrapped up. Most buyers held back on
further coverage, waiting for planting intentions
data.
A few farmers had begun planting, but
their progress was frequently interrupted
by weekly swaths of severe storms rolling
through Missouri, Arkansas and Mississippi,
a trade source said.
The USDA in its annual Prospective Plantings
report said farmers intend to plant
2,583,000 acres to rice in 2023, up 16% from
2022. Planted area in Texas was forecast to
be record low.
The USDA in its weekly Export Sales
report said net export sales of rice in the
week ended March 23 for delivery in 202223
totaled 16,400 tonnes, up 10% from the
previous week but down 67% from the prior
four-week average. Saudi Arabia accounted
for half of the sales. MBN
RICE
Mar. 31
Cash
Long grain
Medium grain
Parboiled
Brewers
Rice bran
Rice hulls
- Change from -
Mar. 24
37.00@38.00 +1.00
50.00
-
43.00@43.50 +1.50
Second
heads, bulk 26.00@30.50
24.00@28.00
f.o.b. mills, $ per ton
Rice millfeed
$ per cwt bagged
USDA world price milled
Long grain
18.45
Medium/short
grain
Broken
$ per cwt
18.22
10.73
CBOT rough rice futures
May
July
September
November
$ per cwt
MILLING & BAKING NEWS 61
-
-
-
-
-
-
15.12
14.92
9.59
17.41½ -0.46½ +0.21½ 16.00½
17.66
-0.09½ +0.41½ 16.30½
15.62½ +0.04½ +0.24½ 16.05
15.84½ +0.14
+0.33
16.12
65.00
-
-
-
170.00@245.00 -50
5.00
-
Mar. 17
+1.00
-
+1.50
-
-
-
-50
-
Year
ago
29.00
34.00
31.50
20.50
20.00
50.00
145.00
5.00
expected in Idaho and Ohio.
Canada in its Outlook for Principal Field
Crops report issued by Agriculture and
AgriFood Canada forecast Canadian oat
planted area at 1,200,000 hectares in 2023,
down 22% from the area planted in 2022 and
the lowest in five years. MBN
Rice
Bookings and sales of milled rice, industrial
rice, extruded products and rice flour
ticked higher last week. Prices were steady
to higher.
Second-quarter contracts for users of
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