Milling & Baking News - July 20, 2004 - 42

I N G R E D I E N T

W E E K

improved from the week before. Rated
good to excellent was 71% of the crop, up
from 66% last week and on par with a
year earlier.
SOFT RED. Changes in mill bids on soft
red winter wheat last week were firm to
stronger, reflecting the need of several
mills to reach out beyond their traditional
draw areas to secure good milling quality
wheat. Incidence of disease in the new
crop, while scattered, was said to be the
highest in several years.
In Kansas City, No. 1 soft red bids advanced 2c a bu, to 7@32c over K.C. September. Gulf bids on nearby declined 5c,
to 30c over Chicago September. St. Louis
mill bids surged 20c, to 40c over Chicago
September for less than 2 p.p.m.
vomitoxin and minimum 300 falling
number. The Chicago mill basis moved
up 3c, to 23c over Chicago September.
Mill bids in Toledo advanced 2c, to 7c
under Chicago September. Elevator bids
were 8c under Sept. The Cincinnati mill
basis gained 10c, to 5c over Chicago Sept.
Elevator bids were 1c over Sept. Michigan white wheat with 1 p.p.m. vomitoxin
or less was bid at 5c over Chicago September, up 5c from the week before.
Some mills were said to have paid
edges above the quoted bids to secure
wheat with no or lowest possible
vomitoxin content. Initial indications
were the soft white wheat crop in Michigan would have similar problems with
disease seen in soft red winter in the same
or adjacent areas.

The harvest on July 11 was 98% done in
Missouri, 93% in Illinois, 96% in Indiana,
77% in Ohio and 6% in Michigan.
DURUM. The price of choice milling
hard amber durum at Minneapolis was
unchanged at $5.05@5.10 a bu. Durum
mill grind dropped to average about 4½
days last week, which limited needs.
North Dakota crop progress has accelerated, with durum responding to a recent turn toward warmer temperatures.
Sixty-eight per cent of the state's crop was
headed on July 11, compared with 66% as
the recent five-year average for the date.
But the effect of late planting was evident
in Montana, where 19% of durum was
headed versus 51% at the same time last
year. Rated good to excellent was 68% of
durum in North Dakota (70% as average)
and 54% in Montana (79% last year). MBN

Millfeed
Millfeed markets were mixed but
mostly weak, with pressure evident on
prices for July shipment in the Upper
Midwest, Chicago and California. Buffalo, the Southwest and Southeast were
slightly higher, while prices firmed in
most other markets after broad declines
and active trading Tuesday.
Increased mill grind was cited as the
key factor depressing prices in most markets, especially the Upper Midwest. Adding pressure were slipping corn futures
prices, resulting from widespread rain
that boosted corn crop potential. Rainfall
also kept pastures green, limiting nearby

Bulk Middlings

30-day shipment, Kansas City, $ per ton

30-day shipment, Chicago West, $ per ton

feed demand, as did daily high temperatures approaching 100 degrees in much of
the Southwest and West.
Additional pressure was evident in
California as several other products competed for position in feed rations. Shipments of millfeed from nearby states,
purchased when prices were significantly higher a few weeks ago, still were
arriving in California.
Buffalo, adjacent eastern markets, the
Southeast and Southwest showed modest price gains as grind held about steady.
In the Northeast, continued interest from
Canada was supportive.
Prices in the Pacific Northwest were
mostly steady in light trading, although
nearby supply was generally ample.
Wheat germ was unchanged.
Bulk middlings at $49 a ton in Kansas
City and $56 in Minneapolis compared
with yellow corn at $83 K.C., and sorghum at $80. Corn gluten feed was up $6
at $81 ton. Dehydrated alfalfa was steady
at $119 a ton. MBN

Semolina
Bookings of semolina, granulars and
durum flour were very light last week.
Prices edged slightly higher.
The cash price of choice milling hard
amber durum in Minneapolis held at
$5.05@5.10 a bu. That semolina price has
moved up a notch reflected declining
millfeed credits. There was nothing to
suggest any significant change in durum
pricing, given improving conditions for
the crop in North Dakota and Montana.
With a remarkably stable market for
semolina during the past several weeks,
pasta manufacturers had little incentive
to book any further forward than they
wanted. Generally, contract balances extended about eight weeks.
Durum mill grind was 4½ days. MBN

Family Flour

Bulk Middlings
July 16 close, $ per ton, for following shipping periods
July
August September
Kansas City
49 @ 52 55 @ 59 58 @ 63
Chicago West
69 @ 74 77 @ 82 77 @ 82
Buffalo
56 @ 61 56 @ 61 56 @ 61
South. California 83 @ 86 84 @ 87 84 @ 87
North. California 83 @ 86 84 @ 87 84 @ 87
Pacific Northwest 72 @ 77 72 @ 77 72 @ 77
California and Pacific Northwest prices, delivered rail

42 / Milling & Baking News, July 20, 2004

Nationally Advertised Family Flour
Dollars
Oct-Dec
71 @ 74
79 @ 84
65 @ 70
87 @ 90
87 @ 90
80 @ 85

8-5s

July 16
13.36

Year ago
12.16

Semolina
f.o.b. Minneapolis, $ per cwt
Week's
Year
July 16
change
ago
13.45 @ 13.55 +.10
14.85@ 14.95

Sales of national and regional brands
of family flour were seasonally sluggish
last week. There were no changes in carlot list prices, though producers of regional brands were pondering adjustments in the wake of the recent announcement by General Mills raising its list prices
after more than a year and a half.
There were a few summer promotions
scattered about the country. But generally, summer doldrums prevailed. Manufacturers and buyers negotiated over
pricing for the remainder of the year.
Packaging lines were operating five or
even six days last week as manufacturers
and major buyers built inventories. MBN

Bakery Shortening
Bookings of bakery shortening were
slim last week. Price changes were mixed,
bakingbusiness.com / world-grain.com

http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - July 20, 2004

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