Milling & Baking News - August 29, 2006 - 43

I N G R E D I E N T

Soy Products

Bookings of soy flour remained active
last week. Prices advanced.
Sales of soy flour for near-term needs
continued to be active. Some contracting
through December took place, but this
was the exception, with many buyers expecting weaker prices into harvest. Soybean processors ran at a brisk pace.
Soybean futures prices were narrowly
mixed last week, and soybean meal futures
prices slightly higher. Pressure on soybeans came from continued good weather
late in the pod-filling stage and reports of
better-than-expected crop prospects in the
western Corn Belt from participants in the
John Deere/Pro Farmer crop tour.
The condition of the U.S. soybean crop
improved in the week ended Aug. 20, with
58% rated good to excellent compared
with 56% a week earlier and 52% last year,
the U.S. Department of Agriculture said.
The crop was rated 27% fair and 15% poor
to very poor. Four per cent of the crop was
dropping leaves (2% as average for the
date) and 93% was setting pods (88%).
Net soybean export sales in the week
ended Aug. 17 were 47,200 tonnes for 200506, a marketing year low, the U.S.D.A. said.
Sales for 2006-07, which begins Sept. 1, were
336,300 tonnes. The combined total was
below the low end of trade expectations.
Export sales of soybean meal for the week
totaled 200,000 tonnes for both years. MBN

Corn Products

Corn meal sales were steady last week.
Prices were higher.
Sales remained strong and were balanced across all product lines. Sales of
products that had been light a week
earlier, such as corn flour at some
mills, saw improvement last week.

Chicago corn and soy futures
Corn Futures
$ per bu
September
December
March
May
July
September
Soybeans
September
November
January
March
May
July
Soybean Meal
September
October
December
January
March
May

+5¼
+6
+6½
+6¾
+7¼
+8¼

+¼
-
-¼
+½
+¾
+1¼

-4
-3½
-3
-2½
+½
+½

-12¼
-11¼
-12¼
-11
-10
-9¾

+.20
+.20
-.10
+.40
-
-

+.50
-.10
-1.20
-1.00
-.50
-.90

bakingbusiness.com/world-grain.com

Oats

Bookings of food grade oat flakes increased last week. Prices were steady.
U.S. and Canadian millers reported
higher pricing and increased bookings
of oats products through the fall and, in
instances, for the entire winter. With the
start of the hot breakfast cereal season
only weeks away, some oats millers were
concerned milling capacity would not be
able to keep up with demand.
Statistics Canada forecast 2006 oats production, based on July 31 conditions, at
244,813,000 bus, up 10% from 2005. Production in Saskatchewan was forecast at

106,800,000 bus, down 1% from 2005, and
in Alberta at 44,600,000 bus, down 20%.
But Manitoba production was estimated
at 61,200,000 bus, up 114%. The Canadian
oats harvest continued to progress ahead
of average. In Manitoba, milling quality has
varied, with some mills reporting lower test
weights and higher levels of thin kernels,
but others reporting good milling results.
The Saskatchewan oats crop was 7% combined, with similar quality concerns in a few
early samples. Farmer sales of oats were active in Manitoba, where many had waited to
sell until harvest because of last year's poor
crop. Saskatchewan farmers already have
contracted a good amount of their crop.
The harvest of the U.S. oats crop was
96% completed as of Aug. 20, the U.S.
Department of Agriculture said. MBN

Rice

Milled rice and rice byproduct prices
were mostly unchanged last week, except
second heads, steady to $1 a cwt higher.
U.S. Department of Agriculture world
milled rice prices were steady last week.
Rough rice futures prices plunged on
speculative fund liquidation after news
late the previous week that bioengineered
rice not approved for human use had been
detected in commercial long-grain U.S. rice
supplies. The European Union, the largest
buyer of U.S. long-grain rice, said it would
ban imports unless tests could prove shipments were not contaminated. The U.S.D.A.
approved a test late in the week.
The condition of the U.S. rice crop on
Aug. 20 was unchanged from a week
earlier at 56% good to excellent and 38%
fair, the U.S.D.A. said. The crop was 14%
harvested, equal to average for the date.
Net export sales of rice in the week
ended Aug. 17 were 35,100 tonnes for
2006-07, the U.S.D.A. said. MBN

Soy products
Defatted, f.o.b. Midwest plant, $ per cwt
- Change from -
Aug. 25
Aug. 18
Aug. 11
2.03¾ Soy flour
12.50 @ 12.95 +.02@ +.29 +.26 @ +.49
2.17¾ Bulk
13.95 @ 14.50 +.29@ +.02 +.71 @ +.04
2.27¾ Sacked
2.34
Corn meal
2.39¼
2.43¾ $ per cwt
- Change from -
Aug. 25
Aug. 18 Aug. 11
5.91
Chicago, bulk
10.45@ 12.08 +.25@+.08 +.15@-.17
6.02
6.09¼ Chicago, sacked 12.22@ 13.91 +.25@+.08 +.15@-.17
12.12@ 13.81 +.25@+.08 +.15@-.17
6.15¾ New York, bulk
New York, sacked 14.54@ 16.20 +.25@+.08 +.15@-.17
6.18

- Change from - Year
Aug. 25 Aug. 18 Aug. 11 ago
2.25
2.41¾
2.56½
2.66
2.75¼
2.83½
$ per bu
5.43
5.57
5.69¾
5.80¼
5.91
6.00¼
$ per ton
159.50
160.10
162.00
163.30
166.00
168.30

Corn mills ran an average of six days.
Corn futures prices posted moderate
gains last week on spillover strength from
wheat futures, strong exports and technical
factors. Participants on the John Deere/Pro
Farmer crop tour confirmed reports dryness has depressed yield potential in the
western Corn Belt but indicated the crop
benefited from timely rainfall in the east.
The condition of the U.S. corn crop on
Aug. 20 improved slightly to 58% good to
excellent, compared with 57% a week earlier and 50% a year ago, the U.S.D.A. said.
Rated fair was 24% (25% a week earlier)
and poor to very poor was 18% (18%).
Seven per cent of the crop was mature
(6% as average for the date), 44% dented
(33%) and 82% in dough (71%). The harvest was well ahead of the average pace
for the date in most southern states, ranging from a high of 71% completed in Louisiana to 22% in Arkansas.
Export sales of corn in the week ended
Aug. 17 were 181,100 tonnes for 2005-06, a
marketing year low, and 1,554,700 tonnes
for 2006-07, which begins Sept. 1, the
U.S.D.A. said. The combined total was at
the high end of trade expectations. MBN

6.22¼
183.70
184.80
186.70
187.80
189.80
190.50

W E E K

Rice
Offers f.o.b. mills, $ per cwt, bagged

- Change from -
Cash
Aug. 25
Aug. 18 Aug. 11
Long grain
18.00@19.00
- +.50@+.50
Medium grain 20.00@22.00
-
-
Parboiled
20.00@24.00
- +1.50@0
Second
heads, bulk
11@13
0@+1
+1@+1
Brewers
9.75@11.50
-
+.50@0
Rice flour
...
...
...
f.o.b. mills, $ per ton
Rice bran
55@80
0@-3
-7@-3
Rice hulls
5@6
-
0@+1
U.S.D.A. world price milled - $ per cwt
Long grain
10.89
-
+0.10
Oats
Medium grain
10.74
-
+0.09
10.72
-
+0.09
- Change from - Short grain
Minneapolis
5.45
-
+0.05
Aug. 25 Aug. 18 Aug. 11 Broken
C.B.O.T. rough rice futures - $ per cwt
Food grade flakes, f.o.b.,
September
8.99
-0.84
-0.62½
bagged, $ per cwt
21@21.50
-
-
November
9.26
-0.84
-0.63½
Milling quality oats, No. 2 heavy,
January
9.51
-0.79
-0.57
$ per bu
2.04¾
-¼c
-¾c
March
9.75
-0.75
-0.52
Oat hulls, $ per ton
10@15
-
-

Year
ago
13.00
13.00
14.50
11
10
...
38
1
9.02
8.13
8.12
4.51
6.87
7.10
7.26
7.45

Milling & Baking News, August 29, 2006 / 43

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Milling & Baking News - August 29, 2006

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