Milling & Baking News - August 25, 2009 - 33



 Cash Wheat

HARD WINTER. Premiums on hard
red winter wheat in Kansas City were
unchanged to 6c a bu lower last week.
Five-cent declines applied to wheat with
protein from 13.4% through 14%. The rest
of the declines took place on most wheat
with protein below 12.8%. The basis
across the remainder of the protein scale
was unchanged. Again, premiums were
weaker on wheat with protein around the
Kansas average, or about 11.5%. Resellers largely were finished buying wheat to
meet August commitments to mills. Mill
demand for spot supply was limited.
Mills bought additional wheat for delivery in October-December and even
January-March to accommodate recent
flour bookings for those quarters. The
forward wheat purchases of the past few
weeks nearly offset the flour business
completed for October-March.
Export demand for U.S. hard winter
wheat remained softer than a year ago,
but recent declines in U.S. wheat prices
and a weak dollar made U.S. offers more
attractive in certain world markets.
Declining wheat prices chagrined
producers who would like to sell wheat
ahead of the row crop harvest. Some elevators were accepting new wheat from
the farm only on a cash basis, i.e. if the
farmer wants to dump wheat, he has
to sell it. Terminal elevator storage was
filled. On-ground storage of fall crops
when harvest begins was expected to be
widespread. Ideas were producers will
feel pressure to sell soybeans and corn
more than they will feel pressure to sell
wheat once the fall harvest begins.
The hard winter wheat harvest continued in northern areas. The U.S. Department of Agriculture indicated combining was 90% completed in South Dakota on Aug. 16 (99% as the recent fiveyear average for the date) and 56% in

No. 1 hard winter
Basis Kansas City September, cents per bu
Aug. 21 - Change from - Year
Premium Aug. 14 Aug. 7
ago
Ordinary -29 @ -14 -4 @ -4 -2 @ -2 -17 @ 18
11%
-15 @ 0
-
+2 @ +2 9 @ 24
11.2% -12 @ 3
-
+3 @ +3 12 @ 27
11.4%
-6 @ 9
-6 @ -6 -11 @ -11 18 @ 33
11.6%
-2 @ 13 -6 @ -6 -10 @ -10 20 @ 35
11.8%
4 @ 19 -4 @ -4 -6 @ -6 27 @ 42
12%
17 @ 32 -4 @ -4 +2 @ +2 32 @ 47
12.2%
19 @ 34 -2 @ -2 +2 @ +2 32 @ 47
12.4%
19 @ 34 -2 @ -2 +2 @ +2 38 @ 53
12.6%
19 @ 34 -2 @ -2 -1 @ -1 39 @ 54
12.8%
30 @ 45
-
-
39 @ 54
13%
30 @ 45
-
-
43 @ 58
13.2%
40 @ 55
-
-
44 @ 59
13.4%
45 @ 60 -5 @ -5 -5 @ -5 44 @ 59
13.6%
50 @ 65 -5 @ -5 -5 @ -5 45 @ 60
13.8%
55 @ 70 -5 @ -5 -5 @ -5 46 @ 61
14%
60 @ 75 -5 @ -5 -5 @ -5 48 @ 63
bakingbusiness.com / world-grain.com

Montana (84%). The northern harvest
provided wheat with higher protein.
The corn harvest expanded in Texas
and was expected to begin in Oklahoma
shortly. The U.S.D.A. field office in Texas
indicated the state's corn was 53% harvested by Aug. 16 compared with 42% as
the average for the date. Oklahoma corn
was 14% mature.
Railroads remained current with shipping schedules with rail cars and freight
easily available.
HARD SPRING. Premiums on hard
red spring wheat in Minneapolis were
20c a bu higher to 20c lower last week.
Mills bought what wheat they required
to keep pipelines filled in the weeks before new crop spring wheat begins to
flow into marketing channels in greater
volume. The harvest was running about
two weeks behind the average pace because of late spring planting and recent
rains that kept combines idle.
The spring wheat harvest in the six
key states was 13% completed on Aug.
16 compared with 8% a week earlier and
48% as the recent five-year average for
the date. Combining was 3% completed
in North Dakota (43% as average), 66%
in South Dakota (83%), 9% in Minnesota
(45%), 4% in Montana (44%), 17% in Idaho (31%) and 46% in Washington (60%).
The U.S.D.A. as of Aug. 16 rated good
to excellent 74% of the spring wheat crop
in the six key producing states compared
with 72% a week earlier and 56% on the
same date a year ago. Rated good to

excellent was 88% of the crop in North
Dakota, 62% in South Dakota, 70% in
Minnesota, 47% in Montana (35% fair),
92% in Idaho and 49% in Washington
(38% fair).
SOFT RED. Mill bids on soft red winter
wheat were firm last week.
In Kansas City, No. 1 soft red bids
were unchanged at 70c under K.C. September to 20c under. Gulf bids on soft
red for nearby advanced 10c, to 35c
under Chicago September. St. Louis
mill bids were unchanged at 25c under
Chicago September. Chicago mill bids
for nearby were 50c under Chicago December. Mill bids in Toledo for nearby
were unchanged at 85c under Chicago
September. Elevator bids were 70c under
September. Cincinnati mill bids were 70c
under Chicago September. Elevator bids
were 125c under September. Michigan
white wheat mill bids ranged from 50c
to 75c over Chicago September. White
wheat millers reached out to western
origins for supply because of the poor
quality of much of the Michigan crop.
The Michigan wheat harvest was 96%
completed on Aug. 16 compared with
100% as average for date. The Michigan
field office of the U.S.D.A. indicated producers in southeast Michigan already
were preparing fields for seeding next
year's crop of winter wheat. With another poor year for soft white winter wheat,
there were ideas growers might increase
further wheat area planted to soft red
winter wheat versus white wheat. MBN

No. 1 hard spring

Cash wheat

Milling quality, basis Minneapolis September, cents per bu
Aug. 21
- Change from -
Year
Premium Aug. 14
Aug. 7
ago
Ordinary
...
...
...
...
11%
...
...
...
...
12%
-5
+15 @ -5
+5
...
13%
5 @ 10
0 @ +5
-5 @ 0
10 @ 30
13.5%
25 @ 40
...
+10 @ +10
...
14%
45 @ 55
+5 @ -5
+5 @ +10 45 @ 85
14.5%
60 @ 85
0 @ -20
0 @ +20
...
15%
145 @ 160 +20 @ +10 +25 @ +20 95 @ 125
16%
...
...
...
...
17%
...
...
...
...

Exporter bids and offers
For
Aug. 21
shipment
Bid
Offer
No. 1 Hard 12%, Track Gulf
Basis Kansas City future, cents per bu
August
...
...
September
+57 Sep.
...
October
... Dec.
65
November
+74 Dec.
82
No. 2 Soft Red, c.i.f. New Orleans
Basis Chicago future, cents per bu
August
-35 Sep.
-25
September
-28 Sep.
-10
October
-35 Dec.
-15
November
-5 Dec.
10

Ingredient Week

Year ago
bid

...
...
+75 Dec.
+75 Dec.

-135 Sep.
-130 Sep.
...
...

Aug. 21 - Change from - Year
For shipment
Bid
Aug. 14 Aug. 7
ago
No. 1 Soft White, Track, Portland
$ per bu
Nearby
...
...
...
8.45
August
...
...
...
8.45
September
5.00
-
-
8.75
No. 1 Hard 11.5%, Track, Portland
Basis Kansas City future, $ per bu
Nearby
...
...
...
0.40
August
...
...
...
0.40
September
0.30
-.10
-.20
0.50
No. 1 Spring 14%, Track, Portland
Basis Minneapolis future, $ per bu
Nearby
0.75
-
+.05
...
August
0.75
-
+.05
...
September
0.75
-
+.05
...

Canadian domestic milling wheat
Change from Year
In-store, Thunder Bay,
Aug. 21
Aug. 14
ago
Canadian $ per tonne
Western red spring 13.5% 235.70
-5.87
386.96
Soft white spring
208.32
-9.36
355.45
Amber durum
287.68 -12.64
595.61
U.S. $ per bu
Western red spring 13.5%
5.94
-0.05
10.07
Soft white spring
5.25
-0.15
9.25
Amber durum
7.25
-0.20
15.50
Milling & Baking News August 25, 2009 / 33
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Milling & Baking News - August 25, 2009

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