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USDA - AMS: Minneapolis Basis Report (2019-04-10)

USDA U.S. Department of Agriculture - April 10, 2019


MS_GR112
Minneapolis, MN    Wed Apr 10, 2019    USDA Market News

Minneapolis Daily BASIS Report

Actual wheat receipts on the exchange floor:
Today's were 43 cars which included 1 trains.
Last year's were 37 cars which included 0 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 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  +115N              unch              +25       - -
  13.5 Pct+110N              unch              - -       - -
  14 Pct  +110N              unch              +25       - -
  14.5 Pct+105* to +110      no comp           - -       - -
  15 Pct  +110 to +140       unch - up 15      +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 -May
  10 Pct  No Quote           - -
  11 Pct  No Quote           - -               +90
  12 Pct  No Quote           - -               +100
  13 Pct  No Quote           - -               +100
  14 Pct  No Quote           - -

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

US 2 Yellow Corn -  futures                    Mpls - May
 Mpls            No Bid      - -               -45
More corn bids:  May -36 (K); Jun -42 (N); Jul -40 (N); Oct -53 (Z);
 Nov -47 (Z)  .
US 1 Yellow Soybeans -  futures                Mpls - May
 Mpls            No Bid      - -               -80
More soybean bids:  May -65 (K); Jun -67 (N); Jul -64 (N); Oct -76 (X);
 Nov -68 (X)  .
Oats:            BASIS May                     Mpls - May
                                               Truck 20 Day To-Arrive
 US 2 or Better  No Quote    - -               +7 to +60
                                               Rail 20 Day To-Arrive
                                               +7 to +60

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


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