Milling & Baking News - May 16, 2023 - 43

May 12
11.2%
NO. 1 HARD WINTER
- Change from -
Premium
150 @ 160
May 5
Ordinary 130 @ 140 -5 @ -5
11%
-1 @ -1
Apr. 28
-3 @ -3
-10 @ -10
150 @ 160 -10 @ -10 -10 @ -10
11.4% 150 @ 160 -10 @ -10 -10 @ -10
11.6% 150 @ 160 -10 @ -10 -10 @ -10
11.8% 150 @ 160 -10 @ -10 -10 @ -10
12%
12.2%
12.4% 150 @ 160 -10 @ -10
12.6% 150 @ 160 -10 @ -10
13.2%
150 @ 160 -10 @ -10 -10 @ -10
150 @ 160 -10 @ -10 -10 @ -10
-5 @ -5
-5 @ -5
12.8% 150 @ 160 -10 @ -10 +10 @ +10
13%
150 @ 160 -5 @ -5 +10 @ +10
150 @ 160 -5 @ -5 +10 @ +10
13.4% 150 @ 160 -5 @ -5 +10 @ +10
13.6% 150 @ 160 -5 @ -5 +10 @ +10
13.8% 150 @ 160 -5 @ -5 +10 @ +10
14%
150 @ 160 -5 @ -5 +10 @ +10
Basis Kansas City July, cents per bu
Cash Wheat
HARD WINTER. The hard red winter
wheat basis in Kansas City was 1¢ to 10¢ a bu
lower last week. The widest declines came
at 11%- and 12%-protein levels, flattening the
protein scale outside of ordinary wheat.
Offers initially were greeted with a muted
response. Later supplies drew more bids.
Contract applications were steady.
The to-arrive market was mostly quiet, but
a merchandiser said wheat had been sold as
far out as first-half June, and a miller noted
some July-September wheat had traded.
Southern and western areas of Kansas
received " decent rains " at the end of the
week. The market was eager to hear findings
from the May 15-18 hard winter wheat tour
to learn whether rainfall was too late to salvage
yields and production in regions that
have been starved for moisture all winter.
Winter wheat was in the heading stage
in the central and southern Plains. The US
Department of Agriculture, in its latest Crop
Progress report, said winter wheat headed
by May 7 was 32% in Kansas (24% as the
recent five-year average for the date), 77%
in Oklahoma (73%), 77% in Texas (77%), 1% in
Colorado (2%) and 1% in Nebraska (1%).
The USDA indicated winter wheat in goodto-excellent
shape May 7 was 11% in Kansas
(13% a week earlier); 7% in Oklahoma (9%);
20% in Texas (17%); 22% in Colorado (28%); 12%
in Nebraska (14%); 18% in South Dakota (22%),
and 54% in Montana (46%).
The USDA in its May Crop Production
report, forecast 2023 hard red winter wheat
production at 514,297,000 bus, down 3% from
530,910,000 bus in 2022.
Salina wheat bids through June were
the KC July price. Hutchinson wheat bids
through July were the KC July price. Wichita
elevator bids nearby were the KC July
price; bids for May 15 through July were 5¢
under July. Gulf bids on 12%-protein hard
bakingbusiness.com
Year
ago
May 12
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
215 @ 225
Ordinary
11%
12%
13%
13.5%
14%
14.5%
NO. 1 HARD SPRING
- Change from -
Premium
. . .
. . .
. . .
. . .
. . .
200
160
. . .
. . .
May 5
. . .
. . .
. . .
. . .
. . .
+35 @ 0
. . .
15% 150 @ 240 -60 @ 0
16%
17%
. . .
. . .
Apr. 28
. . .
. . .
. . .
. . .
. . .
Year
ago
...
...
...
...
...
+50 @ +20 130 @ 180
+30
120 @ 135
+20 @ +20 110 @ 210
. . .
. . .
...
...
Basis Minneapolis July, delivered Chicago\beyond cents per bu
For shipment
GULF EXPORT BIDS AND OFFERS
Offer
May 12
Bid
No. 1 Hard 12%, Track Gulf
May
June
July
August
May
June
July
August
+145
+145
+145
...
+75
+42
+42
...
May
July
July
+155
+155
+155
...
Basis Kansas City future, cents per bu
No. 2 Soft Red, c.i.f. New Orleans
May
July
July
Basis Chicago future, cents per bu
red winter wheat for May were 148¢ over
May; June-July, 145¢ over July.
HARD SPRING. Premiums on milling quality
hard red spring wheat in Minneapolis
were 35¢ a bu higher to 60¢ lower last week.
The North Dakota Wheat Commission in its
weekly wheat update said the slow pace of seeding
continued in North Dakota as " producers
continue to be challenged by cool and wet soil
conditions, exacerbated by additional rain. "
The NDWC reported that across eastern areas
of the state, many field edges still had pockets
of snow. Western fields were drier and more
favorable for planting. In eastern and central
regions, additional rain would be welcomed to
boost soil moisture conditions for germination.
The USDA indicated spring wheat planting
in the six production states was 24%
completed by May 7 compared with 12% a
week earlier, 26% a year earlier and 38% as the
recent five-year average for the date. Seeding
was 89% completed in Washington (74% a
week earlier), 63% in Idaho (45%), 56% in South
Dakota (17%), 32% in Montana (12%), 10% in
North Dakota (6%), and 7% in Minnesota (0%).
SOFT RED. Soft red winter wheat mill bids
were mostly unchanged. Toledo mill bids
through May were 25¢ under Chicago July;
June-July, 15¢ under July; August-September,
15¢ under September; October-December,
5¢ under December. The Toledo elevator bid
nearby through July was 25¢ under Chicago
+85
+45
+45
...
+50 May
+25 July
+25 July
+30 Sep.
For shipment
Year ago
Bid
+173 May
+165 July
+165 July
+162 Sep.
May
85
135
185
235
285
MA NF
PACIFIC NORTHWEST
May 12
Bid
June
July
June
July
May
June
July
May 5
No. 1 Soft White, Track, Portland
7.40
7.40
7.40
-
-
-
$ per bu
No. 1 Hard 11.5%, Track, Portland
May
1.55
1.55
1.55
Basis Kansas City future, $ per bu
No. 1 Spring 14%, Track, Portland
1.10
1.10
1.10
-
-
-
Basis Minneapolis future, $ per bu
July. The Cincinnati elevator had no nearby
bid; new crop, 15¢ under Chicago July. Michigan
soft white winter wheat mill bids were
the Chicago July price to 10¢ over; soft red
winter wheat mill bids were 15¢ under Chicago
July. Gulf bids on soft red winter wheat
nearby were 75¢ over Chicago July; June-July,
42¢ over July.
Spot market activity was limited in the wake
of the recent downturn in wheat futures, a
miller said. Wheat flowed into mills mostly
under contract. For some mills, that would continue
weekly, while other millers said contracts
were completed until new crop. To-arrive trading
was minimal. Farmers' attention was on
planting soybeans and corn as fields have dried
sufficiently for producers to bring in heavy
equipment. The Michigan wheat crop there
was in Feekes stage 7 of development with flowering
expected around Memorial Day.
Winter wheat headed by May 7 was 40% in
Missouri (37% as the 2018-22 average), 39% in
Illinois (27%), 16% in Indiana (12%), 1% in Ohio
(3%) and 1% in Michigan (0%), the USDA said.
The Department rated the portion of the
crop in good-to-excellent condition at 66% in
Missouri, 68% in Illinois, 78% in Indiana, 67%
in Ohio and 64% in Michigan.
The USDA in its May Crop Production
report forecast 2023 soft red winter wheat
production at 405,754,000 bus, up 21% from
336,525,000 bus in 2022 and compared with
the North American Millers' Association soft
wheat panel's forecast of 404,923,000 bus. MBN
MILLING & BAKING NEWS 43
+.05
+.05
+.05
0.80
0.80
0.70
-
-
-
+.05
+.05
+.05
1.00
1.00
0.85
- Change from -
Apr. 28
-.15
-.15
-.15
Year
ago
...
...
...
NO. 1 HARD WINTER PREMIUM, 12.2%
basis Kansas City, cents per bu
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Milling & Baking News - May 16, 2023

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