STAT Communications Ag Market News

Minneapolis Daily Basis Report

MINNEAPOLIS - Apr 16/08 - SNS -- USDA daily report on wheat, corn, oat and soybean basis levels delivered track Minneapolis.

Minneapolis Daily BASIS Report
Minneapolis Daily Basis Prices: Spot No. 1 Milling Northern/Dark Northern Spring
Wheat.  The Spring Wheat 13 to 15 pct basis was steady to 50 cents lower.
** 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**.
                                                  TRUCK
           RAIL - Spot                           Bid To Arrive
           Mpls/Dul            Change            20 Day
US 1 Milling DNS/NS Wheat                        Mpls    Duluth
           July                                  BASIS -July
  12 Pct   No Quote            - -               - -     - -
  13 Pct   No Quote            - -               +85     - -
  14 Pct   +185 to +225        dn 15 - unch      +125    - -
  15 Pct   +200 to +275        dn 50 - unch      +145    - -
  16 Pct   No Quote            - -               - -     - -
  17 Pct   No Quote            - -               - -     - -
  18 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     +150B               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 -July
  10 Pct   No Quote            - -
  11 Pct   No Quote            - -               No Quote
  12 Pct   No Quote            - -               +35
  13 Pct   No Quote            - -               +35
  14 Pct   No Quote            - -
US 2 Yellow Corn - May futures                   Mpls - May
 Mpls             -59    B     unch              -50
More corn bids:  May -43 (K); June -50 (N); July -47 (N); N/C -72 (Z).
US 1 Yellow Soybeans -  futures                  Mpls - May
 Mpls             No Bid       - -               -62
More soybean bids:  May -52 (K); June -60 (N); July -60 (N); N/C  -112 (X).
                                                 Mpls
Oats:             BASIS -May                     BASIS -May
                                                 Truck To-Arrive
 US 2 or Better   No Quote     - -               -8 to -5
                                                 Rail To-Arrive
                                                 -8 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
Spot market prices are on track at location.  To Arrive bids are on truck at
location.  Test weight premiums for Wheat 0-1 cent each 1/2 lbs 58-60 lbs. Test
weight discounts:  1-2 cents each 1/2 lbs 58-56 lbs. Amber Discounts: 5-10
premium; 10-40 cents Durum.
Source:  USDA Market News Service, Minneapolis, MN

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