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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