Minneapolis Weekly Grain Update

MINNEAPOLIS - May 15/08 - SNS -- The USDA today released its weekly update of Minnepolis grain and oilseed markets for the period covering May 15.

Minneapolis Weekly Grain Summary

Prices for the week ending Thursday  May 15, 2008

   The Milling Spring Wheat was not quoted. The industry is considering
switching from the July to the September futures contract and this lead to some
buyer and seller indecisiveness. Abundant supplies in the mill pipeline also
pressured spot buying.

   Spring Wheat:  Prices are for US 1 Dark Northern Spring Wheat with less than
2.0 pct Vomitoxin. The 14 pct protein Spring Wheat had no quote.  The 12 pct
protein Hard Red Winter was 9.72, 35 cents under the July futures on the spot
market.  The 20 day to-arrive was 21.25 cents lower at 10.42, the basis was 25
cents lower at 35 cents over the July futures.

   Durum:  Choice and Balance Milling Durum had no quote.  Both Minneapolis and
Duluth terminal durum had no quote. Durum rail receipts for the week totaled 19
compared to 0 last year.

   Rye: US 1 Rye had no quote.  The to-arrive Rye had no bid until new crop.

   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 was steady at 7.25 per bushel.  Receipts for the week totaled 9
compared to 9 last year.  Feed Barley delivered into Duluth closed the week
with no bid.  Feed Barley delivered into Minneapolis was steady with a bid of
5.35 per bushel.

  Corn:  US 2 Yellow Corn was 25.25 cents lower at 5.38, the basis was 6 cent
higher at 61 cents under the July futures.  To-arrive bids for corn are: June
5.35, July 5.44 Aug 5.5625 and new crop at 5.4450.

  Oats:  US 2 or better Oats had no quote on the sport market.  To-arrives were
7.50 to 20.50 cents lower from 3.82-3.97, the basis was steady to 13.00 cents
higher from 12 cents under to 3 cents over the July futures.

   Soybeans:  US 1 Yellow Soybeans were 48.50 cents higher at 12.6750 with the
basis 11 cents higher at 80 cents under the July futures.  To-arrive bids for
soybeans are: June 12.6750, July 12.7950, Aug at 12.3300 and new crop at
12.0925.

   Sunflowers:  The NuSun Sunflowers in Enderlin were 85 cents higher at 28.70,
Fargo was also 115 cents higher at 29.00.

Futures     Jul 08     Aug 08     Sep 08     Nov 08     Dec 08     Jan 09
MPLS
Spring:    10.0700        - -     8.7200        - -     8.7750        - -
CBOT
Corn        5.9900        - -     6.1125        - -     6.2250        - -
Oats        3.9400        - -     4.0500        - -     4.2000        - -
Soybeans   13.4750    13.4700    13.2800    13.1925        - -    13.3225

                  Cash Market                      Delivered 20 day truck
Wheat US 1:    This Week         Last Week         Mpls          Duluth
N/DNS Wheat
  13 pct       No Quote          No Quote          10.0200       9.8700
  14 pct       No Quote          12.0325N-12.2825  10.4200       10.1700
  15 pct       No Quote          12.4825N-12.7825  10.6200       10.2700
Durum
Choice Milling No Quote          No Quote          - -           - -
Rye, US 1      No Quote          No Quote          0.0000        - -
Oats
  US 2 or Btr  No Quote          No Quote          3.82-3.97
Malting Barley
  Robust       No Quote          No Quote          7.2500        - -
US 2 Feed Barley
  Mpls         5.35 B            5.35 B            5.3500        - -
Yellow Corn
  US 2         5.38 B            5.6325 B          5.3800        - -
Soybeans
  US 1         12.675 B          12.19 B           12.6750       - -

N = Nominal; A = Ask; B = Bid

Source:        USDA Market News Service, Minneapolis, MN

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