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Sunday, May 18, 2008


 

MS_GR115 Minneapolis, MN Thu May 15, 2008 USDA Market News Minneapolis Weekly Grain Summary Prices for the week ending Thursday May 15, 2008 The Milling Spring Wheat was not quoted. The industry is considering switching from the July to the September futures contract and this lead to some buyer and seller indecisiveness. Abundant supplies in the mill pipeline also pressured spot buying. Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less than 2.0 pct Vomitoxin. The 14 pct protein Spring Wheat had no quote. The 12 pct protein Hard Red Winter was 9.72, 35 cents under the July futures on the spot market. The 20 day to-arrive was 21.25 cents lower at 10.42, the basis was 25 cents lower at 35 cents over the July futures. Durum: Choice and Balance Milling Durum had no quote. Both Minneapolis and Duluth terminal durum had no quote. Durum rail receipts for the week totaled 19 compared to 0 last year. Rye: US 1 Rye had no quote. The to-arrive Rye had no bid until new crop. Barley: Robust Malting Barley 60 pct or better plump max. 2.0 ppm vomitoxin had no quote. The to-arrive bid for 1.0 ppm vomitoxin rail delivered to Minneapolis was steady at 7.25 per bushel. Receipts for the week totaled 9 compared to 9 last year. Feed Barley delivered into Duluth closed the week with no bid. Feed Barley delivered into Minneapolis was steady with a bid of 5.35 per bushel. Corn: US 2 Yellow Corn was 25.25 cents lower at 5.38, the basis was 6 cent higher at 61 cents under the July futures. To-arrive bids for corn are: June 5.35, July 5.44 Aug 5.5625 and new crop at 5.4450. Oats: US 2 or better Oats had no quote on the sport market. To-arrives were 7.50 to 20.50 cents lower from 3.82-3.97, the basis was steady to 13.00 cents higher from 12 cents under to 3 cents over the July futures. Soybeans: US 1 Yellow Soybeans were 48.50 cents higher at 12.6750 with the basis 11 cents higher at 80 cents under the July futures. To-arrive bids for soybeans are: June 12.6750, July 12.7950, Aug at 12.3300 and new crop at 12.0925. Sunflowers: The NuSun Sunflowers in Enderlin were 85 cents higher at 28.70, Fargo was also 115 cents higher at 29.00. Futures Jul 08 Aug 08 Sep 08 Nov 08 Dec 08 Jan 09 MPLS Spring: 10.0700 - - 8.7200 - - 8.7750 - - CBOT Corn 5.9900 - - 6.1125 - - 6.2250 - - Oats 3.9400 - - 4.0500 - - 4.2000 - - Soybeans 13.4750 13.4700 13.2800 13.1925 - - 13.3225 Cash Market Delivered 20 day truck Wheat US 1: This Week Last Week Mpls Duluth N/DNS Wheat 13 pct No Quote No Quote 10.0200 9.8700 14 pct No Quote 12.0325N-12.2825 10.4200 10.1700 15 pct No Quote 12.4825N-12.7825 10.6200 10.2700 Durum Choice Milling No Quote No Quote - - - - Rye, US 1 No Quote No Quote 0.0000 - - Oats US 2 or Btr No Quote No Quote 3.82-3.97 Malting Barley Robust No Quote No Quote 7.2500 - - US 2 Feed Barley Mpls 5.35 B 5.35 B 5.3500 - - Yellow Corn US 2 5.38 B 5.6325 B 5.3800 - - Soybeans US 1 12.675 B 12.19 B 12.6750 - - N = Nominal; A = Ask; B = Bid Source: USDA Market News Service, Minneapolis, MN 612-370-3258 24 hour price information 612-370-3260 www.ams.usda.gov/mnreports/MS_GR115.txt 15:14 C bcs .