JO_GR111
Portland, OR         Thu  Jul 03, 2008     USDA Market News

Hard red winter wheat and dark northern spring wheat basis at midday for
Portland delivery.

Futures closes:

Chicago Soft Red Winter Wheat
                                 Change
Sep=          CU       8.8750    up 7.25

Kansas City Hard Red Winter
                                 Change
Jul=          KCN      9.0500    up 20.5
Sep=          KCU      9.1225    up 7.5
Dec=          KCZ      9.3500    up 7.25
Mar=          KCH      9.5700    up 8

Minneapolis Hard Red Spring
                                 Change
Jul=          MNN     10.8000    dn 20
Sep=          MNU      9.3800    up 2.5
Dec=          MNZ      9.5500    unch
Mar=          MNH      9.6900    up 3


Midday basis for Soft White Wheat
Basis                                Change     Cash Bids       Change     Futures
FH Jul=   -83 to -83 mostly  -83 +CU dn 8         8.05 to 8.05  unch       8.8750  U
LH Jul=   -113 to -83mostly  -83 +CU dn 8         7.75 to 8.05  unch
-
Midday basis for Ordinary percent protein US 1 Hard Red Winter Wheat
Basis                                Change     Cash Bids       Change     Futures
Jul=      NA                                       NA                      9.1225  U
-
Midday basis for 11.5 percent protein US 1 Hard Red Winter Wheat
Basis                                Change     Cash Bids       Change     Futures
Jul 3-10= 75 to 80   mostly  76  +KCUunch-dn 8    9.87 to 9.92  up 7-dn 1  9.1225  U
Jul 11-20=65 to 76   mostly  75  +KCUunch-dn 2    9.77 to 9.88  up 7- 5
Jul 21-31=65 to 75   mostly  66  +KCUunch         9.77 to 9.87  up 7
Aug NC=   60 to 75   +KCU            unch         9.72 to 9.87  up 7
Sep=      70 to 85   +KCU            unch         9.82 to 9.97  up 7
Oct=      70 to 75   +KCZ            unch        10.05 to 10.10 up 7       9.3500  Z
Nov=      75 to 78   +KCZ            unch-dn 2   10.10 to 10.13 up 7- 5
-
Midday basis for 14 percent protein US 1 Dark Northern Spring Wheat
Basis                                Change     Cash Bids       Change     Futures
Jul 2-10= 80 to 110  mostly  110 +MNUdn 10-unch  10.18 to 10.48 dn 8-up 2  9.3800  U
Jul 11-20=80 to 110  mostly  110 +MNUdn 10-unch  10.18 to 10.48 dn 8-up 2
Jul 21-31=80 to 110  mostly  97  +MNUdn 10-unch  10.18 to 10.48 dn 8-up 2
Aug NC=   80 to 105  +MNU            dn 10-unch  10.18 to 10.43 dn 8-up 2
Sep=      80 to 105  +MNU            dn 10-unch  10.18 to 10.43 dn 8-up 2
Oct=      75 to 108  +MNZ            dn 5-unch   10.30 to 10.63 dn 5-unch  9.5500  Z
Nov=      80 to 100  +MNZ            dn 5- 8     10.35 to 10.55 dn 5- 8

Kansas City Board of Trade/Minneapolis Grain Exchange/Chicago Board of Trade (C)
month symbols: H-March, K-May, N-July, U-September and Z-December

Source:   USDA Market News Portland, OR
          Tiffany Smit               (503) 326-2237
          www.ams.usda.gov/mnreports/JO_GR111.txt

11:53     ts
.