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USDA-MS: Weekly Grain Review

Minneapolis, MN - Thursday, Oct 12, 2017 USDA Market News


Minneapolis Weekly Grain Summary

Prices for the week ending Thursday, October 12, 2017

**The prices for spring wheat on the spot rail market are now quoted Delivered Chicago 
for Beyond.** 

The milling wheat prices were mostly higher this week. Demand and trade continue to be 
very light.

**Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less than 2.0 ppm 
Vomitoxin. The 12 pct protein had no quote. The 13's had no quote. The 13.5's were 0.75 
cents higher at 6.9125B, the basis was 5 cents higher at 80B. The low 14's were 5.75 to 
10.75 cents higher at 7.2125N, the 10 to 15 cents higher at 110N cents over the December 
futures delivered Chicago for Beyond. The 14.5's were 5.75 to 15.75 cents higher at 
7.2125N, the basis 10 to 20 cents higher from at 110N cents over the December futures 
delivered Chicago for Beyond. The 15's were at 7.6125N, the basis had no comparison at 
150N over the December futures delivered Chicago for Beyond. The 12 pct Hard Red Winter 
Wheat on the spot floor had no quote. The 20 day to-arrive truck delivery for 12 pct 
protein HRW bid into Minneapolis was 8 cents lower at 4.5625, the basis was steady at 30 
cents over the December Hard Red Winter Wheat futures.

  Barley: Robust Malting Barley 60 pct or better plump max. 2.0 ppm vomitoxin had no 
quote. The to-arrive bid for 1.0 ppm vomitoxin rail delivered to Minneapolis had had no 
quote. Feed Barley delivered into Duluth closed the week with no bid. Feed Barley 
delivered into Minneapolis was steady with a bid of 2.10.

  Corn: US 2 Yellow Corn was 24.50 cents higher at 2.92 with the basis 25 cents higher at 
57 cents under the December futures. The to-arrive bids for corn are: first/half November 
at 3.01, last/half April at 3.3775, May at 3.3775, June at 3.4225, and July at 3.4125.

  Oats: US 2 or better Oats had no quote on the spot market. The To-arrive bids for oats 
were mixed. 12.50 cents lower to 14.50 cents higher from 2.6875-3.2175, the basis was 
steady to 27 cents lower from 7 to 60 cents over the December futures.  
  
  Soybeans: US 1 Yellow Soybeans were 43.75 cents higher at 9.27, the basis was 20 cents 
higher at 65 cents under the November futures. The to-arrive bids for soybeans are: 
first/half November at 9.40, last/half April at 9.7925, May at 9.8225, June at 9.8850, 
and July at 9.8750.

FUTURES    Nov 17    Dec 17    Jan 18     Mar 18      May 18      Jul 18      Sep 18
MPLS         
Spring:     - -      6.1125      - -      6.25        6.3150      6.3550      6.2925  
Chicago
SRW         - -      4.3050      - -      4.4950      4.6175      4.7525      4.9125
HRW         - -      4.2625      - -      4.4450      4.5875      4.7675      4.9550
Corn        - -      3.49        - -      3.6275      3.7175      3.7925      3.86  
Oats        - -      2.6175      - -      2.6375      2.6475      2.61         - -  
Soybeans   9.92       - -      10.0250   10.0250     10.12       10.2950       - -  

                 Cash Market                      Delivered 20 day truck
              This Week         Last Week
  Wheat on MGEX Floor/Delivered Chicago/Beyond    Mpls          Duluth
US 1 Milling DNS/NS Wheat
  13 pct      No Quote          6.755N            5.9125
  13.5 pct    6.9125B           6.905N
  14 pct      7.2125N           7.105N-7.155N     6.1625
  14.5 pct    7.2125N           7.055N-7.155N
  15 pct      7.6125N           No Quote          6.2625
Durum
Choice MillingNo Quote          No Quote          - -           - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.
                            ThisLast Week         Mpls          Duluth
Rye, US 1     No Quote          No Quote          3.9000        - -
Oats
  US 2 or Btr No Quote          No Quote          2.6875-3.2175
Malting Barley
  Robust      No Quote          No Quote          0.0000        - -
US 2 Feed Barley
  Mpls        2.1 B             2.1 B             2.1000        - -
Yellow Corn
  US 2        2.91 B            2.675 B           2.9200        - -
Soybeans
  US 1        9.27 B            8.8325 B          9.3000        - -

N = Nominal; A = Ask; B = Bid

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_gr115.txt
         www.ams.usda.gov/lpsmarketnewspage


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