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USDA-MS: Weekly Grain Review

Minneapolis, MN - Thursday, Feb 08, 2018 USDA Market News


Minneapolis Weekly Grain Summary

Prices for the week ending Thursday, February 8, 2018

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

The milling wheat cash prices were mixed, mostly lower this week.  Supply and demand 
remained relatively light.

**Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less than 2.0 ppm 
Vomitoxin. The 12 pct had no quote. The 13 pct had no quote. The 13.5 pct was 7.25 to 
8.25 cents lower at 6.93, with the basis steady to 5 cents lower at 80N cents over the 
March futures delivered Chicago for beyond.  The 14 pct protein was mixed, 3.75 cents 
lower to 18.25 cents higher from 7.13N-7.40, the basis was mixed, 5 cents lower to 17 
cents higher from 100N-127 cents over the March futures delivered Chicago for Beyond. The 
14.5's had no comparison at 7.33N, the basis at 120N over the March futures delivered 
Chicago for Beyond. The 15's were 1.25 to 11.25 cents higher from 7.68N-7.78, the basis 
was steady to 10 cents higher from 155N to 165 cents over the March 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 7.50 
cents higher at 5.4550, the basis steady at 70 cents over the March 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 20 cents higher with a bid of 2.85.

  Corn: US 2 Yellow Corn had no spot quote until river open. The to-arrive bids for corn 
are: Last/half April at 3.4525, May at 3.4525, June at 3.47, July at 3.47, August at 
3.3725, and October at 3.35.

  Oats: US 2 or better Oats had no quote on the spot market. The To-arrive bids for oats 
were 1.25 to 2.25 cents higher from 2.7650-3.1950, the basis steady to 1 cent lower from 
7 to 50 cents over the March futures.  
  
  Soybeans: US 1 Yellow Soybeans had no spot quote until river open.  The to-arrive bids 
for soybeans are: Last/half April at 9.4975, May at 9.4975, June at 9.6125, July at 
9.6125, August at 9.5975, and October at 9.4450.

FUTURES      Mar 18       May 18       Jul 18       Sep 18       Dec 18
MPLS         
Spring:      6.1300       6.2525       6.3450       6.3775       6.4600
Chicago
SRW          4.5625       4.6925       4.8250       4.9700       5.1650
HRW          4.7450       4.8950       5.0625       5.2200       5.4175
Corn         3.6675       3.7325       3.8100       3.8725       3.9500
Oats         2.6950       2.6925       2.6650       2.6450       2.6275
Soybeans     9.8775       9.9875      10.0825      10.0975          - -

                 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          No Quote          6.0300
  13.5 pct    6.93N             6.9175N-6.9675N
  14 pct      7.13N-7.4         7.1675B*-7.2175A* 6.2800
  14.5 pct    7.33N             No Quote
  15 pct      7.68N-7.78        7.6675            6.3800
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          4.5000        - -
Oats
  US 2 or Btr No Quote          No Quote          2.765-3.195
Malting Barley
  Robust      No Quote          No Quote          - -           - -
US 2 Feed Barley
  Mpls        2.85 B            2.65 B            2.8500        - -
Yellow Corn
  US 2        No Bid B          No Bid B                        - -
Soybeans
  US 1        No Bid B          No Bid B                        - -

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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