MS_GR112
Minneapolis, MN            Fri  Aug 29, 2008         USDA Market News
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 5 cents higher.  The 
14.5 pct protein ranged has been added to the protein levels due to the 
difference in value between 14.0 and 14.9 pct protein wheat.

** 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
           Sep                                   BASIS -Dec
  12 Pct   No Quote            - -               - -     - -
  13 Pct   +15                 up 5 - unch       -50     - -
  14 Pct   +40 to +45B         no comp           +0      - -
  14.5 Pct +105 to +110        no comp           - -      - -
  15 Pct   +130N to +145       unch              +40     - -
  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 -Dec
  10 Pct   No Quote            - -
  11 Pct   No Quote            - -               No Quote
  12 Pct   No Quote            - -               -42
  13 Pct   No Quote            - -               -42
  14 Pct   No Quote            - -

US 2 Yellow Corn - Dec futures                   Mpls - Dec
 Mpls             -64    B     no comp           -64
More corn bids:  L/H Sep -74 (Z); Oct -80 (Z); Nov -70 (Z);
    .
US 1 Yellow Soybeans - Nov futures               Mpls - Nov
 Mpls             -80    B     dn 35             -80
More soybean bids:  L/H Sep -80 (X); Oct -115 (X); Nov -100 (X);
    .
                                                 Mpls
Oats:             BASIS -Sep                     BASIS -Sep
                                                 Truck To-Arrive
 US 2 or Better   No Quote     - -               No Quote
                                                 Rail To-Arrive
                                                 No Quote

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
         612-370-3258
         24 hour price information  612-370-3260
         www.ams.usda.gov/mnreports/MS_GR110.txt

13:25    C cam
.