Milling & Baking News - August 23, 2022 - 41

Aug. 19
11.2%
NO. 1 HARD WINTER
- Change from -
Premium
157 @ 167
157 @ 167
Aug. 12
Ordinary 150 @ 160 -10 @ -10
11%
11.4% 157 @ 167
12.2%
Aug. 5
-2 @ -2
-3 @ -3 +5 @ +5
-3 @ -3 +5 @ +5
-3 @ -3 +5 @ +5
11.6% 155 @ 165 -5 @ -5 +3 @ +3
11.8% 155 @ 165 -5 @ -5 +3 @ +3
12%
Year
ago
Aug. 19
95 @ 105
95 @ 105
106 @ 116
106 @ 116
106 @ 116
112 @ 122
155 @ 165 -5 @ -5 +29 @ +29 125 @ 135
155 @ 165 -5 @ -5 +29 @ +29 130 @ 140
12.4% 155 @ 165 -5 @ -5 +29 @ +29 150 @ 160
12.6% 155 @ 165 -5 @ -5 +29 @ +29 150 @ 160
12.8% 155 @ 165 -5 @ -5 +29 @ +29 170 @ 180
13%
13.2%
155 @ 165 -5 @ -5 +29 @ +29 180 @ 190
150 @ 160 -10 @ -10 +24 @ +24 180 @ 190
13.4% 150 @ 160 -10 @ -10 +24 @ +24 180 @ 190
13.6% 150 @ 160 -10 @ -10 +24 @ +24 180 @ 190
13.8% 150 @ 160 -10 @ -10 +24 @ +24 180 @ 190
14%
150 @ 160 -10 @ -10 +24 @ +24 180 @ 190
Basis Kansas City Sept., cents per bu
Cash Wheat
HARD WINTER. The hard red winter
wheat basis in Kansas City was 3¢ to 10¢ a
bu lower last week with the largest declines
mostly in the top third of the protein scale.
Mill pipelines were flush with wheat flowing
from steady applications against contracts
and a robust spot market. On several
trading days, more than 50 cars were presented
for cash sale, most with mid-11% proteins.
Most traded at the high side, but a few
low protein offerings bumped prices higher.
Railroads were functioning relatively
smoothly in Colorado and Kansas, but performance
was lacking in Nebraska, and shippers
were pondering how to get wheat east
through Chicago to satisfy mill demand.
The US Department of Agriculture said
harvesting by Aug. 14 was 71% completed in
Montana (72% as the recent five-year average),
98% in Nebraska (98%) and 94% in South
Dakota (92%).
Salina wheat bids nearby through September
were 15¢ under KC September. OctoberDecember,
15¢ under December. Hutchinson
wheat bids nearby through August were
15¢ under KC September. Wichita elevator
bids through September were 25¢ under KC
September. Gulf bids on 12%-protein hard red
winter wheat for nearby were 152¢ over KC
September; September, 157¢ over.
HARD SPRING. Premiums on milling quality
hard red spring wheat in Minneapolis
were 10¢ a bu higher to 20¢ lower last week.
Steady cash market offerings comprised a
couple dozen singles and a few trains per day.
Growers were focused on cutting,
transporting and storing of the crop in the
northern Plains and weren't keen to trade
deferred wheat at current market prices,
a veteran commodities analyst said. Most
sought 60¢ to 80¢ per bu price increases
bakingbusiness.com
Ordinary
11%
12%
13%
13.5%
NO. 1 HARD SPRING
- Change from -
Premium
. . .
. . .
. . .
. . .
. . .
130
. . .
Aug. 12
. . .
. . .
. . .
. . .
. . .
14% 130 @ 185 +5 @ +5
. . .
. . .
Aug. 5
. . .
. . .
. . .
. . .
. . .
-30 @ 0
-5 @ 0
. . .
. . .
Year
ago
. . .
. . .
. . .
. . .
90
130
14.5% 85 @ 100 -15 @ -20 -40 @ -30 85@ 100
15% 130 @ 200 +10 @ 0
16%
17%
140
. . .
. . .
Basis Minneapolis Sept., delivered Chicago\beyond cents per bu
For shipment
GULF EXPORT BIDS AND OFFERS
Offer
Aug. 19
Bid
No. 1 Hard 12%, Track Gulf
August
+152 Sep.
+185 Dec.
September +157 Sep.
October
November +185 Dec.
August
+80 Sep.
+75 Dec.
+162
+167
+195
+195
Basis Kansas City future, cents per bu
No. 2 Soft Red, c.i.f. New Orleans
+85
September +90 Sep.
October
November +80 Dec.
Basis Chicago future, cents per bu
before marketing supplies again, she said.
The USDA said spring wheat was 16%
harvested by Aug. 14 compared with 35% as
the average for the date. Harvest completion
was 5% in North Dakota (29% as the average),
72% in South Dakota (68%), 26% in Montana
(34%), 12% in Minnesota (42%), 14% in Idaho
(35%) and 14% in Washington (39%).
The North Dakota Wheat Commission
in its weekly wheat update noted minimal
progress in the early days of the state's
spring wheat harvest and suggested activity
would ramp up in the third week of August
as the crop ripens more and dries out. Due
to an elongated planting window due to
adverse weather, some producers were still
two to three weeks away from harvest.
" The crop that has been harvested was
planted early, before the rains and snow
delayed planting, and likely has some of
the higher yield potential, " the NDWC said.
" Reported yields have been good so far with
producers seeing average to slightly above
average yields. Protein levels so far have been
at least 14%, and test weights have been strong. "
In its August Crop Production report, the
USDA forecast the national average yield of
spring wheat other than durum in 2022 at
47.8 bus per acre, up 0.8 bu from the July outlook
and compared with 32.6 bus per acre in
drought-plagued 2021. The USDA forecast
North Dakota's average other-spring wheat
yield at a record 52 bus per acre, up 1 bu
from the July outlook and compared with
+100
+90
+95
+18 Sep.
+27 Sep.
+40 Dec.
+55 Dec.
For shipment
Year ago
Bid
+169 Sep.
+174 Sep.
+179 Dec.
+179 Dec.
135
185
235
285
335
385
85
AN FM
PACIFIC NORTHWEST
Aug. 19
Bid
September
October
$ per bu
No. 1 Hard 11.5%, Track, Portland
August
September
October
September
October
1.70
1.70
1.70
Basis Kansas City future, $ per bu
No. 1 Spring 14%, Track, Portland
August
1.10
1.10
1.30
Basis Minneapolis future, $ per bu
33.5 bus per acre in 2021.
The USDA forecast was above the 49.1 bus
per acre projection gleaned from the July
Wheat Quality Council spring wheat and
durum tour of North Dakota and western
Minnesota. The USDA forecast Montana to
have the lowest average other spring wheat
yield this year at 28 bus per acre compared
with 17 bus per acre in 2021.
SOFT RED. Michigan mills received steady
shipments of wheat purchased earlier with
supply in inventories expected to be more
than adequate to sustain operations as farmers
and elevators shift priorities to harvest
the fall crops.
The USDA said 96% of Michigan winter
wheat was harvested by Aug. 14 versus 97%
as average for the date. Other states finished
combining earlier.
St. Louis-area mill bids on soft red winter
wheat through August were 18¢ over Chicago
September; October-December, 25¢ over
December. Toledo mill bids nearby through
September were 5¢ under Chicago September.
Elevator bids through September were
25¢ under Chicago September. Cincinnati
elevator bid was 35¢ under Chicago September.
Michigan soft white winter wheat mill
bids were the Chicago September price to 20¢
over; soft red winter wheat mill bids were 10¢
over to 15¢ under September. Gulf bids on soft
red winter wheat for August were 80¢ over
Chicago September. MBN
MILLING & BAKING NEWS 41
-
+.05
+.05
+.05
+.05
+.05
1.40
1.40
1.45
+.10
+.10
+.10
+.10
+.10
+.10
1.60
1.65
1.60
8.40
8.50
8.55
Aug. 12
No. 1 Soft White, Track, Portland
August
-.40
-.45
-.35
NO. 1 HARD WINTER PREMIUM, 12.2%
- Change from -
Aug. 5
-.85
-.75
-.65
Year
ago
9.85
9.80
9.80
basis Kansas City, cents per bu
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Milling & Baking News - August 23, 2022

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