MS_GR112
Minneapolis, MN            Wed  Dec 12, 2007         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 mixed, 2 cents lower to 10 cents
higher.

** 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
           Mar                                   BASIS -Mar
  12 Pct   No Quote            - -               - -     - -
  13 Pct   +50N to +65         unch              +15     +30
  14 Pct   +70 to +80          up 5 - 10         +25     +40
  15 Pct   +90 to +100*        dn 2 - unch       +25     +45
  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 -Mar
  10 Pct   No Quote            - -
  11 Pct   No Quote            - -               -22
  12 Pct   No Quote            - -               -12
  13 Pct   No Quote            - -               -12
  14 Pct   No Quote            - -

US 2 Yellow Corn - Mar futures                   Mpls - Mar
 Mpls             -43    B     unch              -43
More corn bids:  R/O -36 (K); May -34 (K);
    .
US 1 Yellow Soybeans -  futures                  Mpls -
 Mpls             No Bid       - -               - -
More soybean bids:  R/O -47 (K); May -45 (K);
    .
                                                 Mpls
Oats:             BASIS -Mar                     BASIS -Mar
                                                 Truck To-Arrive
 US 2 or Better   No Quote     - -               -2 to -0
                                                 Rail To-Arrive
                                                 -2 to -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

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

13:26    C cam
.