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USDA-MS: Minneapolis Basis Report

Minneapolis, MN - Mon Mar 20, 2017 - USDA Market News

  **UPDATED CORN AND SOYBEANS**

Minneapolis Daily BASIS Report

Actual wheat receipts on the exchange floor:
Today's were 102 cars which included 3 trains.
Last year's were 42 cars which included 1 trains.

Minneapolis Grain Exchange Daily Grain Prices Delivered Chicago/Beyond: Spot
No. 1 Milling Northern/Dark Northern Spring Wheat.  The spring Wheat 12 to
15 pct basis was mixed 25 cents lower to 15 cents higher.

***PLEASE NOTE: Prices prior to Jan 4, 2010 were for Minneapolis beyond; the
provided freight rate differential to Minneapolis is for Minneapolis unload.

Only the spot wheat/durum rail market is being quoted delivered Chicago/Beyond.
The to-arrive wheat is truck delivered and on a Minneapolis or Duluth based market.

** The basis is for US 1 Milling Quality Only.  Milling Quality is defined as
300 or better Falling Numbers; 58 lbs or better test weight; 13.5 Pct or less
moisture; 1.5 Pct or less Damage; 1.5 Pct or less Dockage and 2.0 ppm or
less vomitoxin**.

           RAIL - Spot         Change             TRUCK
 Wheat on MGEX Floor/Delivered Chicago/Beyond    20 Day To-Arrive
US 1 Milling DNS/NS Wheat                        Mpls       Duluth
           May                                   BASIS -May
  11 Pct   No Quote            - -               - -        - -
  12 Pct   No Quote            - -               - -        - -
  13 Pct   +50N                unch              -5         - -
  13.5 Pct +65*                dn 25             - -        - -
  14 Pct   +80* to +100        dn 10 - up 10     +10        - -
  14.5 Pct +85                 dn 20             - -        - -
  15 Pct   +135*               up 15             +20        - -
  16 Pct   No Quote            - -               - -        - -
  17 Pct   No Quote            - -               - -        - -
    *Train

Balance Spring Wheat - 13 pct
  US 1     No Quote            - -
  US 2     No Quote            - -
  US 3     No Quote            - -
Balance Spring Wheat - 14 pct
  US 1     No Quote            - -
  US 2     No Quote            - -
  US 3     No Quote            - -
Balance Spring Wheat - 15 pct
  US 1     +80B                no comp
  US 2     No Quote            - -
  US 3     No Quote            - -
 *Train
The above Spring Wheat does not meet domestic milling specifications
and is traded at a basis price with market discounts on other grade
factors.
                                                 Mpls
US 1 Hard Red Winter Wheat  BASIS KC - May       BASIS KC - May
  10 Pct   No Quote            - -
  11 Pct   No Quote            - -               +20
  12 Pct   +75B                no comp           +30
  13 Pct   No Quote            - -               +30
  14 Pct   No Quote            - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.

US 2 Yellow Corn - May futures                   Mpls - May
 Mpls             -32    B     up 2              -31
More corn bids:  May -30 (K); Jun -35 (N); Jul -36 (N); Aug -37 (U);
 Oct -55 (Z); F/H Nov -52 (Z).
US 1 Yellow Soybeans - May futures               Mpls - May
 Mpls             -51    B     up 2              -49
More soybean bids:  May -45 (K); Jun -48 (N); Jul -44 (N); Aug -45 (Q);
 Oct -61 (X); F/H Nov -54 (X).
Oats:             BASIS -May                     Mpls - May
                                                 Truck 20 Day To-Arrive
 US 2 or Better   No Quote     - -               +35
                                                 Rail 20 Day To-Arrive
                                                 +35

BASIS REPORT SYMBOLS:
January-F; February-G; March-H; April-J; May-K; June-M; July-N;
August-Q; September-U; October-V; November-X; December-Z

   Mpls=Minneapolis  Dul=Duluth KC=Kansas City  N=Nominal   R/O=River Open
   A=Asked   B=Bid   NB=No Bid   NQ=No Quote   NC=New Crop

Source:    USDA Market News Service, Minneapolis, MN
           Carol Meinders 612-370-3258 Minnesota.LPGMN@ams.usda.gov
           24 hour price information 612-370-3260
           www.ams.usda.gov/mnreports/ms_gr112.txt
           www.ams.usda.gov/lpsmarketnewspage


13:36      c  cam

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