Milling & Baking News - January 11, 2022 - 40

MARKET trends
TUES | 01 11 2022
BAKERS STANDARD, KANSAS CITY
Bakery Flour
Bookings of bakery flour expanded last
week as bakers took more interest in covering
the second and third quarters. Prices
were lowered as wheat futures and the
hard red winter wheat basis declined.
Bakers and other food manufacturers
mostly concentrated on futures and locked
in a fair amount even as the Kansas City
basis broke lower midweek. Many bakers
were waiting to see how low KC premiums
might descend. The basis shot sharply and
rapidly higher in mid-December, when
rail deliveries of contracted wheat slowed
to a crawl and millers raised bids to pull
more supplies out of country elevators for
spot sale. Pipelines were in better shape by
last week, and millers reduced their basis
support.
The declines in wheat futures were a
boon to distributors and other near-term
buyers. Most baking categories were fairly
active, with the exception of bun manufacturing,
which was seasonally slow.
First-quarter coverage was unchanged
at 75% for spring grades, 65% for pan-bread
flour and 45% for soft flours. Pan-bread
bakers and spring grade users brought
April-June coverage up to about 40% while
cookie-cracker and specialty bakers still
were at about 25% covered. Third-quarter
coverage was unchanged at 20% for panbread
flour, 15% for spring grades, and 10%
for soft flour. MBN
BAKERY FLOUR
Jan. 7
Kansas City
Bakers short patent
Minneapolis
Spring short patent
Spring standard patent
High gluten
Whole wheat
Specialty whole wheat
Fancy spring clear
First spring clear
Rye, white
Chicago
Cracker
Fancy cake
New York
Winter/spring blend
Spring standard patent
High gluten
Fancy cake
Rye, white
Los Angeles
Bakers standard patent
Pastry
Bulk, f.o.b. car, $ per cwt
40 MILLING & BAKING NEWS
Bakers standard patent 24.50
Second clear
8.85
23.65
23.55
24.55
23.55
Family Flour
Sales and shipments of national and
regional brands of family flour were
brisk last week as grocers, supermarket
chains and mass merchandisers restocked
shelves and warehouses after back-to-back
holiday weeks. Carlot list prices were
unchanged.
Family flour business soon was expected
to recede into the late winter-spring
doldrums. Millers said that would allow
plenty of time for mills and packing lines
to undergo fumigations and other regular
maintenance typically scheduled outside the
busy fall baking season.
The next notable period for sales was
expected to be the weeks leading up to Easter,
although millers said the holiday provided
only a small bump in recent years.
Private label buyers' first-quarter coverage
was essentially completed, and most
had locked in some components for the
second quarter and continued to kick tires
on the latter.
" They were waiting for a break like this,
but basis levels have skyrocketed over the
last several weeks and that puts a bit of a
damper on lower futures prices when you've
got a basis that's so strong, " a miller said.
Promotions were limited, but Midwest
grocers had a national brand on sale for
$2.69 for a 5-lb bag and private label on sale
for $2.39. Central Plains groceries sold
private label for $1.79 and national brands
around $2.40, both for 5-lb bags. Private
label could be found at mass merchandisers
for $1.56 a bag. MBN
- Change from - Year
Dec. 31 Dec. 23 ago
24.60 -0.75 -2.60 16.40
-0.75 -2.60 16.30
- 8.85
-
-1.55
-1.55
-1.55
-1.55
23.90 -1.55
23.40 -1.55
23.30 -1.55
17.20 -0.10
18.95 -0.35
20.45 -0.35
-2.75 15.75
-2.75 15.65
-2.75 16.65
-2.75 15.65
-2.75 16.00
-2.75 15.50
-2.75 15.40
-0.25 18.60
-1.15 16.30
-1.15 17.80
27.00 -0.75 -2.60 18.80
25.80
26.80
22.45 -0.35
19.70 -0.10
-1.25 -2.40 17.55
-1.25 -2.40 18.55
-1.15 19.80
-0.25 21.10
28.70 -0.75 -2.60 21.20
28.75 -0.75 -2.60 21.25
Semolina
Bookings of semolina, granulars and
durum flour were limited last week. Prices
eased nominally, but logistical hang-ups in
rail and truck freight propped up the nearby
market. BNSF and Canadian Pacific rail car
placements at country origins were two to
DURUM AND SEMOLINA
Jan. 7
Durum
Chicago
Minneapolis
18.50
18.30
-
-
- Change from - Year
Dec. 31 Dec. 23 ago
-.25 8.40
-.25 8.10
No. 1 Hard Amber Durum Choice Milling 13%, Track, $ per bu
Semolina
Semolina
Granulars
Flour
First clear
Second clear
Semolina - NY
Jan. 7
44.90
44.70
44.60
15.00
7.50
48.10
Bulk, f.o.b. Minneapolis, $ per cwt
- Change from - Year
Dec. 31 Dec. 23 ago
-.10
-.10
-.10
-
-
-.10
-.80 19.60
-.80 19.40
-.80 19.30
- 14.00
- 7.00
-.80 23.00
$12.50
$14.50
$16.50
$18.50
$20.50
$22.50
$24.50
$26.50
$28.50
JA JO
Previous Year
Bulk, f.o.b. car, per cwt
SPRING STANDARD, MINNEAPOLIS
$12.00
$14.00
$16.00
$18.00
$20.00
$22.00
$24.00
$26.00
$28.00
JA JO
Previous Year
Current Year
Bulk, f.o.b. car, per cwt
CRACKER FLOUR, CHICAGO
$11.30
$14.30
$17.30
$20.30
$23.30
JA JO
Previous Year
Current Year
Bulk, f.o.b. car, per cwt
three days behind. A winter storm across
North Dakota delayed several shipments of
durum to mills.
" The week has been a logistics ballgame,
and that's taken precedence over all else, " a
miller said. " The market is literally weathering
the winter storm before hopefully settling
into normalcy. "
The price of choice milling hard amber
durum as quoted at the Chicago rail gateway
for delivery beyond was $18.50 per bu,
unchanged. Durum wasn't actively traded
and has not been for several weeks as offers
from the country weren't forthcoming.
" Durum that traded in the deferreds happened
before Algeria's purchase and it's
quiet now domestically, " a miller said. " But
Tunisia's purchase of 75,000 tonnes of nonmilling
quality durum at sub-$8 Chicago
equivalent was certainly an indicator of
declining prices. "
Some mills started up slowly after the
New Year's Day holiday even as pasta makers
aimed to rebuild inventories after backto-back
holiday weeks.
Most pasta manufacturers earlier completed
first-quarter coverage. Millers' estimates
of second-quarter coverage ranged
widely from 25% to 65%. MBN
bakingbusiness.com
Current Year
http://www.bakingbusiness.com
Milling & Baking News - January 11, 2022

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