Milling & Baking News - September 20, 2022 - 40

MARKET trends
Bulk, f.o.b. car, per cwt
Bulk, f.o.b. car, per cwt
Bulk, f.o.b. car, per cwt
TUES | 09 20 2022
BAKERS STANDARD, KANSAS CITY
Bakery Flour
Bookings of bakery flour were limited last
week amid a looming rail strike averted with
little time to spare. Prices were mixed.
Bun and tortilla makers bought spot flour
to close out September coverage. Other bakers
were ready to tie basis and millfeed components
with futures coverage taken earlier
and fully book the quarter, even if midds
hadn't reached their targeted price.
Purchasers for large food manufacturers
were nailing down 2023 budgets and
looking at first- and second-quarter flour
purchases. Consumer packaged goods
manufacturers were the largest sector noted
by millers as locking in basis and millfeed
components out to June.
Millers and bakers most of the week were
preoccupied with contingency plans in the
event of a strike. Meanwhile, spot millfeed
prices jumped, by as much as $20 a ton in
some regions, a plus for bakers. But at the
same time, wheat futures rallied, and the
Kansas City spot basis popped higher. In
any case, uncertainty generated hesitancy,
culminating in " buyer paralysis for about
24 hours, " one miller said. Another noted
the near impossibility of sourcing trucks
and drivers in an already-ultra-tight freight
scenario and the added challenge of fulfillment
via trucks holding 500 cwts versus a
rail car's 2,000 cwts of flour.
Unions agreed to extend negotiations and
then to a handshake deal specifying numerous
pay raises retroactive to 2019, bonuses
BAKERY FLOUR
- Change from - Year
Sept. 16 Sept. 9 Sept. 2 ago
Kansas City
Bakers short patent
Bakers standard patent
Second clear
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
22.80 0.45
22.70 0.45
8.85
-
21.90 0.40
21.80 0.40
22.70 0.40
21.80 0.40
22.15 0.40
21.65 0.40
21.55 0.40
22.55
-0.15
18.80
-0.20
20.30 -0.20
25.20 0.45
24.50
25.40
0.15
0.15
22.30 -0.20
25.05 -0.15
27.70 0.45
27.80 0.45
1.65 20.15
1.65 20.05
- 8.85
0.65 22.15
0.65 22.05
0.65 23.05
0.65 22.05
0.65 22.40
0.65 21.90
0.65 21.80
-0.65 16.65
1.20 14.45
1.20 15.95
1.65 22.55
0.75 24.95
0.75 25.95
1.20 17.95
-0.65 19.15
1.65 24.25
1.65 24.30
and medical leave policy changes on Sept. 15,
a day ahead of a deadline set by a presidential
emergency board in August.
" There still will be residual impact since
railroads already were shutting things
down, slowing things down to have as little
cargo as possible in their network during a
strike, so they have to reverse all that and
mitigate any delays, " a miller said. " Probably
the next week or so, things will start to
break loose, and bakers will start to book
with a focus on the first quarter. "
Fourth-quarter coverage was 75% for pan
bread flour, 70% for spring grades and 60%
for soft flour. January-March pan-bread and
spring grade flour coverage was seen at 25%
and soft flour at 20%. Second-quarter coverage
was about 15% for pan-bread and spring
flour and 5% for soft flour. MBN
Family Flour
Sales and shipments of national and
regional brands of family flour continued
to increase seasonally last week. Carlot list
prices were unchanged.
Customer offtake was steady, but flour
packing line run times were down slightly
following the fulfillment of a recent surge of
orders ahead of a price increase and extra
packing to catch up after Labor Day.
Flour in 5-lb packages retailed within
established price ranges as high as $5.59 for
branded in the Northeast to $2.12 at mass
merchants and US stores in a Europe-based
grocery chain. Promotions were set to begin
near month's end in several regions. MBN
Semolina
Bookings of semolina, granulars and
durum flour were steady. Coverage estimates
were 50% to 90% for the fourth quarter
and 25% to 35% for the first quarter. Mill run
times averaged 5¾ days. Prices were lowered
as millfeed prices advanced.
" A dark cloud " hung over the market
DURUM AND SEMOLINA
- Change from - Year
Sept. 16 Sept. 9 Sept. 2 ago
Durum
Chicago
Minneapolis
13.00
12.80
-
-
- 18.00
- 17.80
No. 1 Hard Amber Durum Choice Milling 13%, Track, $ per bu
Semolina
Semolina
Granulars
Flour
First clear
Second clear
Semolina - NY
Sept. 16
29.60
29.40
29.30
15.00
7.50
32.80
Bulk, f.o.b. Minneapolis, $ per cwt
- Change from - Year
Sept. 9 Sept. 2 ago
-.05
-.05
-.05
-
-
-.05
-.40 43.35
-.40 43.15
-.40 43.05
- 15.00
- 7.50
-.40 46.55
$12.00
$18.00
$24.00
$30.00
$36.00
SD MJ
Previous Year
Current Year
SPRING STANDARD, MINNEAPOLIS
$12.00
$16.00
$20.00
$24.00
$28.00
$32.00
$36.00
SD MJ
Previous Year
CRACKER FLOUR, CHICAGO
$11.30
$14.30
$17.30
$20.30
$23.30
$26.30
$29.30
SD MJ
Previous Year
Current Year
Current Year
from the potential railroad worker strike, a
miller said, but pasta makers continued to
book semolina nonetheless because " there
is no other solution but to keep operating,
managing coverage as best they can for
something out of their control. "
A temporary railroad-union armistice
was reached Sept. 15. Had a strike been initiated,
millers on average had supplies for
three to four weeks of grind.
The price of choice milling hard amber
durum at the Chicago rail gateway for delivery
beyond was $13 per bu, unchanged from
a week earlier, although millers said the gut
slot of harvest forced values lower during
the week before rebounding.
" A bottom's been put in, the path of least
resistance is higher, that's more than likely
the next move, so pasta makers are wanting
to take advantage, " a miller said.
Some harvest-selling export business
connected. Domestically, elevator selling
began to wane after a surge in the first half
of harvest as they cleared space for new
crop supplies. In the wake of a short crop in
2021, farmers had bin space to store durum
and were doing so. Bids to growers were
steady but were expected to soon be taken
higher. MBN
bakingbusiness.com
http://www.bakingbusiness.com
Milling & Baking News - September 20, 2022

Table of Contents for the Digital Edition of Milling & Baking News - September 20, 2022
