Minneapolis Daily Basis Report

MINNEAPOLIS - Jun 11/10 - 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 84 cars which included 1 trains.
Last year's were 59 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 13 to
15 pct basis was mostly steady to 25 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
           Jul                                   BASIS -Jul
  12 Pct   -20 to -10          up 5 - unch       - -        - -
  13 Pct   +20* to +40         unch - dn 25      -45        - -
  13.5 Pct +60 to +110         dn 20 - unch      - -        - -
  14 Pct   +150 to +180        up 30 - unch      +30        - -
  14.5 Pct +200N to +215N      unch              - -        - -
  15 Pct   +350                unch              +100       - -
  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     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 -Jul
  10 Pct   No Quote            - -
  11 Pct   No Quote            - -               -75
  12 Pct   No Quote            - -               -50
  13 Pct   No Quote            - -               -40
  14 Pct   No Quote            - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.
US 2 Yellow Corn - Jul futures                   Mpls - Jul
 Mpls             -28    B     unch              -28
More corn bids:  July -26 (N); Aug -37 (U); Sep -50 (U); N/C -54 (Z).
US 1 Yellow Soybeans - Jul futures               Mpls - Jul
 Mpls             -10    B     unch              -10
More soybean bids:  July -18 (N); Aug -50 (Q); Sep -51 (X); N/C -51 (X).
Oats:             BASIS -Jul                     Mpls - Jul
                                                 Truck 20 Day To-Arrive
 US 2 or Better   No Quote     - -               +0
                                                 Rail 20 Day To-Arrive
                                                 +0
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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