Milling & Baking News - August 10, 2021 - 51

CHICAGO CORN AND SOY FUTURES
- Change from -
Aug. 6
Corn Futures $ per bu
September
December
March
May
July
September
September
November
January
March
May
September
October
December
January
March
5.55
July 30
+8
July 23
Year
ago
+7¾ 3.07¾
5.56½ +11¼ +13½ 3.20¾
5.64¾ +11½ +13¾ 3.32¾
5.69½ +11½ +14½ 3.41¼
5.70¼ +12
5.33½
+15
+24
Soybeans $ per bu
August
3.47¾
+26¼ 3.52¾
14.22¼ +7½ +21¼ 8.70¼
13.44¼ -11¼ -11½ 8.65¾
13.36¾ -12½
13.41¼
-15
-13
Soybean Meal $ per ton
August
358.80
355.80
354.30
357.70
358.60
358.00
+6.20
+4.50
+4.00
+3.80
+3.50
+2.30
-15¼
13.38¼ -9½ -7¼
8.67½
8.74
8.77
13.38½ -6¾ -3½ 8.81¼
+5.20 280.00
+2.70
+1.90
+1.50
282.00
283.50
286.80
+2.20 288.40
+2.90
289.20
Soy Products
Bookings of soy flour were light. Prices
were raised.
The principal constraint on new business
was the well-covered status of most major
soy flour buyers, including bakers. Coverage
was nearly solid through December,
and buyers felt comfortable holding back on
extending contract balances into 2022 in the
hope a large harvest would pressure prices.
Soybean futures were mostly lower on
favorable weather across the Midwest.
Soybean oil futures dropped as well, so the
share of meal in the value of the soybean
crush increased.
The US Department of Agriculture said
4,852,334 tons of soybeans were crushed in
June compared with 5,205,032 tons in May
and 5,318,419 tons in June 2020. Soybean cake
and meal produced in June totaled 3,579,777
tons compared with 3,849,675 tons in May
and 3,904,725 tons in June 2020. Cake and
meal produced for edible protein products
totaled 37,451 tons compared with 49,514 tons
in May and 57,274 tons in June 2020.
The USDA in its weekly Export Sales
report said net export sales of soybean cake
and meal during the week ended July 29 for
delivery in 2020-21 totaled 135,400 tonnes,
up 55% from the previous week and up 24%
from the prior four-week average.
The USDA said net export sales of soybeans
during the same week for delivery in
2020-21 totaled only 11,400 tonnes, but net
sales for delivery in 2021-22, which begins
Sept. 1, totaled 424,800 tonnes with confirmed
sales of 129,000 tonnes to China.
The USDA said 86% of the soybean crop
was blooming and 58% was setting pods
as of Aug. 1 compared with 82% and 52% as
the respective five-year averages for the
date. Crop condition was rated 60% good to
bakingbusiness.com
Midwest
Food grade flakes, f.o.b.,
bagged, $ per cwt
Oat hulls, $ per ton
Chicago, bulk
SOY PRODUCTS
July 30
- Change from -
Aug. 6
Soy flour
Bulk
Sacked
July 23
37.05 @ 38.05 +.30 @ +.30 +.25 @ +.25
Defatted, f.o.b. Midwest plant, $ per cwt
39.05 @ 40.05 +.30 @ +.30 +.25 @ +.25
CORN MEAL
- Change from -
Aug. 6
21.68 @ 21.93
23.35 @ 23.60
July 30
.16 @ .16
Chicago, sacked 23.45 @ 23.70 .16 @ .16
New York, bulk
.16 @ .16
New York, sacked 25.77 @ 26.06 .16 @ .16
$ per cwt
OATS
- Change from -
Aug. 6
34.25@34.75
Milling quality oats, No. 2 heavy,
$ per bu
July 30
-
5.07¼ +20½c
25@35
-
July 23
-
+5¾c
-
excellent compared with 58% a week earlier
and 73% at the same time last year. MBN
Corn Products
Bookings and sales of corn meal and other
dry corn mill products were steady last week.
Prices were raised as corn futures advanced,
largely in sympathy with wheat futures.
Breakfast, snack food and baking mix
manufacturers continued to extend coverage
into the first and even second quarters
of 2022. At the same time, sales to the foodservice
sector were only " crawling along. "
Some foodservice corn meal and flour buyers
requested shipments due in August be
deferred until October-December.
The USDA in its weekly Crop Progress
report said 38% of corn was in the dough
stage of development by Aug. 1 versus 33%
as the average for the date. Crop condition
declined and was rated 62% good to excellent
compared with 64% a week earlier and 72% at
the same time a year ago.
The USDA on Aug. 4 announced the
purchase of 17,270 tonnes of corn meal for
donation abroad. The USDA subsequently
announced a tender for 15,090 tonnes for
donation to southeast African nations.
The USDA in its weekly Export Sales
report said net export sales of corn during
the week ended July 29 for delivery in 202021
totaled only 68,200 tonnes, but net sales
for delivery in 2021-22, which begins Sept.
1, totaled 830,200 tonnes with Mexico and
Japan the largest buyers. MBN
Oats
Bookings of food-grade oat flakes and
other oat mill products were steady. Prices
were unchanged.
Additional buyers of oat mill products
extended coverage through December. Millers
extruded products and rice flour was limited
last week. Market prices were firm.
Most rice buyers who book supply on
a quarterly basis were covered through
September. Coverage beyond that month
remained limited to that taken by some large
industrial users.
The USDA in its weekly Export Sales
report said during the week ended July 29
there was a net export sales reduction of
8,500 tonnes of rice for delivery in 2020-21,
but there was a net export sales increase of
101,000 tonnes for delivery in 2021-22, which
began Aug. 1, including a sale of 40,000
tonnes of milled rice to Iraq, bringing that
country's two-week total purchase of US
milled rice to 120,000 tonnes.
The USDA in its weekly Crop Progress
report said 59% of the nation's rice crop was
headed by Aug. 1 compared with 44% a week
earlier and 65% as the 2016-20 average. MBN
RICE
- Change from -
Aug. 6
Cash
Long grain
Second
heads, bulk
Brewers
Rice bran
Rice hulls
$ per cwt bagged
USDA world price milled
Long grain
15.13
Medium/short
grain
Broken
$ per cwt
November
January
March
$ per cwt
MILLING & BAKING NEWS 51
15.12
9.60
CBOT rough rice futures
September
13.32
13.60
13.69
13.76
-0.79
-0.43
-0.50
-0.36
-1.29
-0.93
-0.82
17.31
16.99
10.98
-0.34½ -0.23
-0.32
-0.29½ 11.52½
11.58
-0.25½ -0.23
-0.22½ 11.75½
11.95
26.50@28.00
Medium grain 32.25@32.50
Parboiled
29.50@31.75
21.00@22.50
18.25@20.50
f.o.b. mills, $ per ton
Rice millfeed
40.00
July 30
-
-
-
-
-
-
110.00@130.00 -
5.00
-
July 23
-
-
-
-
-
-
-
-
Year
ago
29.50
32.00
30.50
20.00
15.50
40.00
60.00
5.00
July 23
.16 @ .16
.16 @ .16
.16 @ .16
.16 @ .16
were wary of offering supply for the last half
of the marketing year until more was known
about North American supply.
Growth sectors for oat products were oat
beverages and pet foods. Their increased
demand partly offset declining sales to the
grocery sector.
The USDA said 48% of oats was harvested
by Aug. 1 compared with 31% a week earlier
and 42% as the recent five-year average
progress for the date. MBN
Rice
Trading in milled rice, industrial rice,
http://www.bakingbusiness.com
Milling & Baking News - August 10, 2021

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