Minneapolis Daily Basis Report

MINNEAPOLIS - Sep 2/10 - SNS -- USDA daily report on wheat, corn, oat and soybean basis levels delivered track Minneapolis.

Minneapolis Daily BASIS Report

Actual wheat receipts on the exchange floor:
Today's were 200 cars which included 3 trains.
Last year's were 140 cars which included 1 trains.

Minneapolis Grain Exchange Daily Grain Prices Delivered Chicago/Beyond: Spot
No. 1 Milling Northern/Dark Northern Spring Wheat.  The spring Wheat 13 to
15 pct basis was mostly steady to 15 cents lower.

Current freight spread for unload to Minneapolis is 15 cents; Duluth 25 cents.
***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
Dec                                   BASIS -Dec
11 Pct   No Quote            - -               - -        - -
12 Pct   -30N to -15         unch - up 15      - -        - -
13 Pct   -20*                dn 10             -95        - -
13.5 Pct +5 to +10           dn 5 - 15         - -        - -
14 Pct   +75 to +110N        up 5 - unch       -20        - -
14.5 Pct +125                no comp           - -        - -
15 Pct   +410 to +425        up 10 - dn 40     +40        - -
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     +100                no comp
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 -Dec
10 Pct   No Quote            - -
11 Pct   No Quote            - -               -57
12 Pct   No Quote            - -               -32
13 Pct   No Quote            - -               -22
14 Pct   No Quote            - -

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

US 2 Yellow Corn - Dec futures                   Mpls - Dec
Mpls             -71    B     unch              -71
More corn bids:  Oct -75 (Z); Nov -59 (Z); R/O -48 (K).

US 1 Yellow Soybeans - Nov futures               Mpls - Nov
Mpls             -62    B     dn 6              -69
More soybean bids:  Oct -68 (X); Nov -49 (X); R/O -60 (K).

Oats:             BASIS -Sep                     Mpls - Dec
Truck 20 Day To-Arrive
US 2 or Better   No Quote     - -               -10 to +5
Rail 20 Day To-Arrive
-10 to +5

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  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

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