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USDA-MS: Weekly Grain Review

Minneapolis, MN - Thursday, Dec 06, 2017 USDA Market News


Minneapolis Weekly Grain Summary

Prices for the week ending Thursday, December 6, 2017

**The prices for spring wheat on the spot rail market are now quoted Delivered Chicago 
for Beyond.** 

The milling wheat prices were mostly mixed this week. Supply was light to moderate at 
best. Demand was moderate as mills have space for incoming wheat.
 
**Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less than 2.0 ppm 
Vomitoxin. The 12 pct protein had no quote. The low 13's were 4.25 cents higher at 6.61N, 
the basis was 15 cents higher at 50N cents over the March futures Delivered Chicago for 
Beyond. The 13.5's were 6.750 cents lower at 6.91N, the basis was 4 cents higher at 80N 
cents over the March futures delivered Chicago for Beyond. The low 14's were 15.75 to 
20.75 cents lower from 7.11N-7.56, the basis 5 to 10 cents lower from 120N to 145 cents 
over the March futures delivered Chicago for Beyond. The 14.5's were mixed, 0.75 cents 
lower to 24.75 cents higher from 7.31N-7.56N, the basis 10 to 35 cents higher from 120N-
145N cents over the March futures delivered Chicago for Beyond. The 15's were 30.75 to 
35.75 cents lower from 7.61B-7.86, the basis 20 to 25 cents lower from 150B to 175 cents 
over the March futures delivered Chicago for Beyond. The 12 pct Hard Red Winter Wheat on 
the spot floor had no quote. The 20 day to-arrive truck delivery for 12 pct protein HRW 
bid into Minneapolis was 10.75 cents lower at 4.9050, the basis steady at 60 cents over 
the March Hard Red Winter Wheat futures.

  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 had had no 
quote. Feed Barley delivered into Duluth closed the week with no bid. Feed Barley 
delivered into Minneapolis was 25 cents higher with a bid of 2.65.

  Corn: US 2 Yellow Corn had no bid on the spot market. The to-arrive bids for corn are: 
Last/half April at 3.30, May at 3.30, June at 3.3350, July at 3.3350, August at 3.2550, 
and October at 3.24.

  Oats: US 2 or better Oats had no quote on the spot market. The To-arrive bids for oats 
were 17.25 to 18.25 cents lower from 2.34-2.90, the basis steady to 1 cent lower from 11 
cents under the March futures to 45 cents over the March futures.  
  
  Soybeans: US 1 Yellow Soybeans were 3.75 cents lower at 9.07, the basis 10 cents lower 
at 85 cents under the January futures. The to-arrive bids for soybeans are: Last/half 
April at 9.7275, May at 9.7475, June at 9.8125, July at 9.8325, August at 9.74, and 
October at 9.4525.

FUTURES      Jan 18       Mar 18       May 18       Jul 18       Sep 18       Dec 18
MPLS         
Spring:       - -         6.1100       6.1950       6.2375       6.2200       6.3375
Chicago
SRW           - -         4.2150       4.3500       4.4900       4.6375       4.8225
HRW           - -         4.2075       4.3375       4.5000       4.6625       4.9000
Corn          - -         3.5150       3.6000       3.6850       3.7550       3.8400
Oats          - -         2.4500       2.5175       2.6025       2.6225
Soybeans   10.0425       10.1475      10.2325      10.2400      10.1400

                 Cash Market                      Delivered 20 day truck
              This Week         Last Week
  Wheat on MGEX Floor/Delivered Chicago/Beyond    Mpls          Duluth
US 1 Milling DNS/NS Wheat
  13 pct      6.61N             6.5675N           5.9100
  13.5 pct    6.91N             6.9775N
  14 pct      7.11N-7.56        7.3175B*-7.7175   6.1600
  14.5 pct    7.31N-7.56N       7.3175A
  15 pct      7.61B*-7.86       7.9675-8.1675     6.2600
Durum
Choice MillingNo Quote          No Quote          - -           - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.
                            ThisLast Week         Mpls          Duluth
Rye, US 1     No Quote          No Quote          4.2000        - -
Oats
  US 2 or Btr No Quote          No Quote          2.34-2.90
Malting Barley
  Robust      No Quote          No Quote          4.8500        - -
US 2 Feed Barley
  Mpls        2.65 B            2.40B             2.6500        - -
Yellow Corn
  US 2        No Bid B          2.9375 B                        - -
Soybeans
  US 1        9.07 B            9.1075 B                        - -

N = Nominal; A = Ask; B = Bid

Source:  USDA Market News Service, Minneapolis, MN
         612-370-3258 Minnesota.LPGMN@ams.usda.gov
         24 hour price information 612-370-3260
         www.ams.usda.gov/mnreports/ms_gr115.txt
         www.ams.usda.gov/lpsmarketnewspage


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