Milling & Baking News - November 30, 2021 - 41

Nov. 26
NO. 1 HARD WINTER
- Change from -
Premium
Ordinary 130 @ 140
11%
11.2%
130 @ 140
135 @ 145
Nov. 19
-
-
-
Nov. 12
+5 @ +5
+5 @ +5
-
Year
ago
Nov. 26
82 @ 92
99 @ 109
102 @ 112
11.4% 175 @ 185 +25 @ +25 +25 @ +25 137 @ 147
11.6% 185 @ 195 +15 @ +15 +15 @ +15
137 @ 147
11.8% 220 @ 230 +29 @ +29 +29 @ +29 137 @ 147
12%
12.2%
230 @ 240 +8 @ +8 +10 @ +10
230 @ 240 +8 @ +8 +10 @ +10
12.4% 230 @ 240 +8 @ +8 +10 @ +10
12.6% 230 @ 240 +4 @ +4 +4 @ +4
12.8% 230 @ 240 +4 @ +4 +4 @ +4
13% 240 @ 250
13.2%
240 @ 250
13.4% 240 @ 250
13.6% 240 @ 250
13.8% 240 @ 250
14% 240 @ 250
-
-
-
-
-
-
Basis Kansas City Dec., cents per bu
Cash Wheat
HARD WINTER. Premiums on hard red
winter wheat in Kansas City were unchanged
to 29¢ a bu higher last week. The widest
advances were posted on wheat with protein
from 11.4% through 11.8%. Premiums across
the middle third of the protein scale were
raised 4¢ to 8¢ a bu with the adjustments leveling
the basis at 230@240¢ a bu above the KC
December from 12% through 12.8% protein.
The basis on the highest and lowest proteins
was unchanged. Only 10¢ a bu separated basis
quotes across the top two-thirds of the protein
scale. But premiums on 11% protein were
at a $1-a-bu discount to 12% protein and at a
$1.10-a-bu discount to 13% protein and above.
Spot wheat offers were limited with most
elevators closed at least on Thanksgiving
Day with some units not reopening until the
weekend.
Wheat shipments for delivery against
contracts continued at a slower pace than a
few weeks earlier.
New business in the market for to-arrive
wheat was limited with many buyers and sellers
out of their offices for much of the week.
The US Department of Agriculture in its
weekly Crop Progress report said winter
wheat planted by Nov. 21 was 98% in Kansas
(99% as the 2016-20 average for the date), 96%
in Oklahoma (98%), and 93% in Texas (89%),
Planting was completed earlier in Montana,
South Dakota and Colorado.
Winter wheat emergence by Nov. 21 was
89% in Kansas (90% as the average), 90% in
Oklahoma (90%), 75% in Texas (77%), 100% in
Nebraska (99%), 92% in Colorado (95%), 99% in
South Dakota (98%) and 85% in Montana (90%).
Condition of the hard red winter wheat
crop was little changed from the previous
week. Winter wheat rated good to excellent
as of Nov. 21 was 61% in Kansas (64% a week
earlier), 55% in Oklahoma (54%), 22% in Texas
bakingbusiness.com
-
-
-
-
-
-
137 @ 147
137 @ 147
137 @ 147
138 @ 148
138 @ 148
135 @ 145
135 @ 145
135 @ 145
135 @ 145
135 @ 145
135 @ 145
Ordinary
11%
12%
13%
13.5%
NO. 1 HARD SPRING
- Change from -
Premium
. . .
. . .
. . .
. . .
. . .
14% 115 @ 140
. . .
. . .
Nov. 19
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
Nov. 12
. . .
. . .
. . .
. . .
. . .
14.5% 120 @ 145 +120 @ +145 +10 @ +35
15% 145 @ 160 +10 @ 0
16%
17%
-15 @ 0
. . .
. . .
Year
ago
...
...
...
...
150 @ 160
+15 @ +40 145 @ 160
125
170
...
...
Basis Minneapolis Dec., delivered Chicago\beyond cents per bu
For shipment
GULF EXPORT BIDS AND OFFERS
Offer
Nov. 26
Bid
No. 1 Hard 12%, Track Gulf
December +190 Dec.
January
February
March
+190 March
+190 March
+190 March
December +105 Dec.
January
February
March
200
200
200
200
Basis Kansas City future, cents per bu
No. 2 Soft Red, c.i.f. New Orleans
+105 March
+105 March
+105 March
Basis Chicago future, cents per bu
(24%), 63% in Nebraska (60%), 41% in Colorado
(41%), 37% in South Dakota (33%) and 9% in
Montana (7%).
Salina wheat bids were 10¢ under KC Dec;
new crop, 10¢ under July. Hutchinson wheat
bids through November were 5¢ under KC
Dec.; new crop, 10¢ under July. Wichita
elevator bids through November were 15¢
under KC Dec.; new crop, 20¢ under July.
Gulf bids on 12%-protein hard red winter
wheat for November-December were 190¢
over KC Dec.
HARD SPRING. Premiums on milling quality
hard red spring wheat in Minneapolis
were unchanged to 10¢ a bu higher last week.
The only adjustment from the previous week
was at 15% protein, where the low end of the
basis range was raised 10¢ a bu. The Wednesday
basis posting was the final for the week
because of the break for Thanksgiving.
Wheat movement was limited ahead of
the holiday, but mills didn't press for supply.
The soybean harvest was wrapped up
across the northern Plains, and the corn
harvest will be completed soon. Producers
with marketing options will be considering
which crops to sell and which to store.
Because of the drought-reduced harvest,
total supplies of spring wheat were
forecast to be the lowest in 20 years, which
supported high prices but also encouraged
millers and other end users to increase
substitution of hard red winter wheat for
115
115
115
115
+94 Dec.
+94 March
+97 March
+99 March
For shipment
Year ago
Bid
+146 Dec.
+152 March
+152 March
+152 March
115
135
155
175
195
215
235
255
95
NF MA
Basis Kansas City, cents per bu
PACIFIC NORTHWEST
Nov. 26
Bid
11.20
11.20
11.20
Nov. 19
No. 1 Soft White, Track, Portland
December
January
February
-
-
-
$ per bu
No. 1 Hard 11.5%, Track, Portland
December
January
February
January
February
1.50
1.60
1.70
Basis Kansas City future, $ per bu
No. 1 Spring 14%, Track, Portland
December
1.00
1.00
Basis Minneapolis future, $ per bu
spring wheat to the extent practicable.
New crop spring wheat futures posted
new highs as the battle for spring acres
already flared.
SOFT RED. St. Louis-area nearby mill bids
on soft red winter wheat ranged from 40¢ a
bu over Chicago Dec. to 55¢ over; the December
quote was 30¢ over Dec. Toledo mill bids
through December were 30¢ over Chicago
Dec.; January-March, 30¢ over March. The
elevator bid was 15¢ under Chicago Dec.
nearby; new crop, 5¢ under July. The Cincinnati
elevator had no nearby bid on soft wheat
but quoted new crop at 26¢ under Chicago
July. Michigan mill soft white winter wheat
bids were 25¢ over Chicago Dec.; soft red winter
wheat mill bids were 10¢ over Dec. Gulf
bids on soft red winter wheat for November
were 105¢ over Chicago Dec., unchanged.
The USDA said winter wheat planting by
Nov. 21 was 92% completed in Missouri (90%
as the recent five-year average for the date),
90% in Illinois (99%), 96% in Indiana (97%), 95%
in Ohio (100%) and 94% in Michigan (97%).
Winter wheat emergence was 80% in
Missouri (75% as the average), 75% in Illinois
(90%), 85% in Indiana (88%), 90% in Ohio (94%)
and 86% in Michigan (90%).
Winter wheat rated good to excellent as
of Nov. 21 was 63% in Missouri (64% a week
earlier), 85% in Illinois (88%), 68% in Indiana
(68%), 58% in Ohio (64%) and 44% in Michigan
(52%). MBN
MILLING & BAKING NEWS 41
-
-
-
-
1.25
1.15
1.15
-
-
+.05
-
-
+.10
1.50
1.50
1.50
NO. 1 HARD WINTER PREMIUMS, 12.2%
- Change from -
Nov. 12
-
-
-
Year
ago
6.09
6.22
6.22
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Milling & Baking News - November 30, 2021

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