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USDA-MS: Minneapolis Basis Report

Minneapolis, MN - Wed Feb 14, 2018 - USDA Market News


Minneapolis Daily BASIS Report

Actual wheat receipts on the exchange floor:
Today's were 28 cars which included 0 trains.
Last year's were 124 cars which included 4 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 steady.

***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
           Mar                                  BASIS -Mar
  11 Pct   No Quote           - -               - -       - -
  12 Pct   No Quote           - -               - -       - -
  13 Pct   No Quote           - -               -10       - -
  13.5 Pct +75B               unch              - -       - -
  14 Pct   +120N to +125N     unch              +15       - -
  15 Pct   +180               unch              +25       - -
  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    No Quote           - -
  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 - Mar     BASIS KC -Mar
  10 Pct  No Quote           - -
  11 Pct  No Quote           - -               +60
  12 Pct  No Quote           - -               +70
  13 Pct  No Quote           - -               +70
  14 Pct  No Quote           - -

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

US 2 Yellow Corn - Mar futures                 Mpls -
 Mpls            No Bid      - -               - -
More corn bids:  L/H Apr -27 (K); May -26 (K); Jun -34 (N); Jul -34 (N);
 Aug -50 (U); Oct -60 (Z).
US 1 Yellow Soybeans - Mar futures             Mpls -
 Mpls            No Bid      - -               - -
More soybean bids:  L/H Apr -48 (K); May -46 (K); Jun -45 (N); Jul -45 (N);
 Aug -50 (Q); Oct -60 (X).
Oats:            BASIS Mar                     Mpls - Mar
                                               Truck 20 Day To-Arrive
 US 2 or Better  No Quote    - -               +5 to +45
                                               Rail 20 Day To-Arrive
                                               +5 to +45

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
          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


13:27c    kmb

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