Minneapolis Weekly Grain Update

MINNEAPOLIS - Feb 4/16 - SNS -- The USDA today released its weekly update of Minnepolis grain and oilseed markets for the period covering Feb 4.

Minneapolis Weekly Grain Summary
Prices for the week ending Thursday, February 04, 2016
**The prices for spring wheat on the spot rail market are now quoted
Delivered Chicago for Beyond.**
The milling wheat prices firmed up substantially in the higher proteins while quantity of
the lower proteins became very light. The strong increase was mostly factored by location
of the specific wheat that was traded. The supply of wheat on the spot floor was
extremely light this week with above average quality.
 **Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less
than 2.0 ppm Vomitoxin.  The 12 pct protein had no quote. The low 13's had no quote.  The
13.5's had no quote. The low 14's were 9.25 to 19.25 cents higher from 5.9950-6.1450, the
basis was 10 to 20 cents higher from 105 to 120 cents over the March futures delivered
Chicago for Beyond.  The 14.5's were 24.25 to 29.25 cents higher from 6.1450N-6.1950N
with the basis 25 to 30 cents higher from 120N to 125N cents over the March futures
delivered Chicago for Beyond.  The 15's were mixed, .75 cents lower to 4.25 cents higher
from 6.2450N-6.2950N with the basis steady to 5 cents higher from 130N to 135N cents over
the March futures delivered Chicago for Beyond. The 12 pct Hard Red Winter Wheat on the
spot floor had no quote. The 20 day to-arrive truck delivery for 12 pct protein HRW bid
into Minneapolis was 5.00 cents lower at 5.3475, the basis was steady at 75 cents over
the March Hard Red Winter Wheat futures.
  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 had no
quote.  Feed Barley delivered into Duluth closed the week with no bid.  Feed Barley
delivered into Minneapolis was 5.00 cents lower with a bid of 2.50.
  Corn: US 2 Yellow Corn had no quote.  The to-arrive bids for corn are: River Open
3.4750 and Jun/Jul at 3.5275.
  Oats: US 2 or better Oats had no quote on the spot market.  The To-arrive bids for
oats were 2.75 cents lower at 2.5125, the basis was steady at 55 cents over the March
futures.
  Soybeans: US 1 Yellow Soybeans had no quote. The to-arrive bids for soybeans are: River
Open 8.5250 and Jun/Jul at 8.5875.
FUTURES     Mar 16     May 16     Jul 16      Aug 16   Sep 16   Nov 16
MPLS
Spring:     4.9450     5.0025     5.0725         - -   5.1750      - -
Chicago
SRW         4.7275     4.7675     4.8175         - -   4.8975      - -
HRW         4.5975     4.6975     4.7975         - -   4.9350      - -
Corn        3.6850     3.7350     3.7825         - -   3.8375      - -
Oats        1.9625     2.0375     2.1100         - -   2.1675      - -
Soybeans    8.7450     8.7750     8.8375      8.8600   8.8575   8.8825
                 Cash Market                      Delivered 20 day truck
              This Week         Last Week
  Wheat on MGEX Floor/Delivered Chicago/Beyond    Mpls          Duluth
US 1 Milling DNS/NS Wheat
  13 pct      No Quote          5.6025N           4.5950
  13.5 pct    No Quote          5.8925-5.9025
  14 pct      5.995-6.145       5.9025-5.9525     5.0950
  14.5 pct    6.145N-6.195N     5.9025
  15 pct      6.245N-6.295N     6.2525            5.3450
Durum
Choice MillingNo Quote          No Quote          - -           - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.
                            This Last Week         Mpls          Duluth
Rye, US 1     No Quote          No Quote          0.0000        - -
Oats
  US 2 or Btr No Quote          No Quote          2.5125
Malting Barley
  Robust      No Quote          No Quote          0.0000        - -
US 2 Feed Barley
  Mpls        2.5 B             2.55 B            2.5000        - -
Yellow Corn
  US 2        No Quote            3.215 B                         - -
Soybeans
  US 1        No Quote            8.1775 B                        - -
N = Nominal; A = Ask; B = Bid
Source:       USDA Market News Service, Minneapolis, MN

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