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USDA-MS: Weekly Grain Review

Minneapolis, MN - Thursday, Jul 12, 2018 USDA Market News


Minneapolis Weekly Grain Summary

Prices for the week ending Thursday, July 12, 2018

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

The milling wheat cash prices were lower this week.  Supplies were light which is normal 
for this time of year. 

**Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less than 2.0 ppm 
Vomitoxin. The 12 pct protein wheat had no quote.  The 13 pct protein wheat was 7 cents 
lower at 6.7050, the basis was 10 cents higher at 140 cents over the September futures 
delivered Chicago for Beyond. The 13.5 pct protein was 27 to 47 cents lower from 6.5050N-
6.7050N, the basis was 10 to 30 cents lower from 120N to 140N cents over the September 
futures delivered Chicago for Beyond. The 14 pct protein was mixed, 22 cents lower to 3 
cents higher from 6.6550-7.0050, the basis was mixed, 5 cents lower to 20 cents higher 
from 135 to 170 cents over the September futures delivered Chicago for Beyond. The 14.5 
pct protein wheat had no quote. The 15's were 7 to 27 cents lower at 6.9550, the basis 
was mixed, 10 cents lower to 10 cents higher at 165 cents over the September futures 
delivered Chicago for Beyond. The 16's had no comparison at 7.0550N, the basis had no 
comparison at 175N over the September futures delivered Chicago for Beyond. The 20 day 
to-arrive truck delivery for 12 pct protein HRW bid into Minneapolis was 22 cents lower 
at 5.3125, the basis was steady at 50 cents over the September 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 2.85.

  Corn: US 2 Yellow Corn was 3.50 cents lower at 3.0175 with the basis 3 cents higher 44 
cents under the September futures. The to-arrive bids for corn are: August at 3.0575, 
October at 3.0425, first/half November at 3.1225, Apr/May at 3.4475 and Jun/Jul at 
3.5050.

  Oats: US 2 or better Oats had no quote on the spot market. The To-arrive bids for oats 
were 2.25 to 12.25 cents lower from 2.6625-3.0125, the basis was steady to 10 cents lower 
from 25 to 60 cents over the December futures.
  
  Soybeans: US 1 Yellow Soybeans were 8.50 cents lower at 7.8175 with the basis 3 cents 
lower 52 cents under the August futures. The to-arrive bids for soybeans are: August at 
7.8675, October at 7.8425, and first/half November 7.9825.

FUTURES       Aug 18      Sep 18      Nov 18      Dec 18      Mar 19      May 19
MPLS         
Spring:         - -       5.3050        - -       5.4925      5.6550      5.7650
Chicago
SRW             - -       4.8450        - -       5.0125      5.1825      5.3000
HRW             - -       4.8125        - -       5.0575      5.2400      5.3475
Corn            - -       3.3650        - -       3.5925      3.7100      3.7775
Oats            - -       2.3700        - -       2.4125      2.4525      
Soybeans      8.3375      8.3900      8.4925        - -       8.6775      8.7675

                 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      6.705             6.775             5.4050
  13.5 pct    6.505N-6.705N     6.975
  14 pct      6.655-7.005       6.875-6.975       5.6550
  14.5 pct    No Quote          6.875N
  15 pct      6.955*            7.025B-7.225      5.7550
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          6.0500        - -
Oats
  US 2 or Btr No Quote          No Quote          2.6625-3.0125
Malting Barley
  Robust      No Quote          No Quote            - -         - -
US 2 Feed Barley
  Mpls        2.85 B            2.85 B            2.8500        - -
Yellow Corn
  US 2        3.0175 B          3.0525 B          3.0175        - -
Soybeans
  US 1        7.8175 B          7.9025 B          7.8175        - -

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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