JO_GR111
Portland, OR         Tue  Nov 24, 2009     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
Mar           CH       5.5350    dn 25

Kansas City Hard Red Winter
                                 Change
Dec           KCZ      5.2950    dn 24.5
Mar           KCH      5.4575    dn 24.5
May           KCK      5.5775    dn 23.5
Jul           KCN      5.7000    dn 22.75

Minneapolis Hard Red Spring
                                 Change
Dec           MNZ      5.4000    dn 23.25
Mar           MNH      5.5875    dn 22.75
May           MNK      5.7125    dn 22
Jul           MNN      5.8275    dn 22.5


Midday basis for Soft White Wheat - ANY PROTEIN
Basis                                Change     Cash Bids       Change     Futures
Dec       -69 to -59 mostly  -65 +CH up 20- 15    4.85 to 4.95  dn 5- 10   5.5350  H
Jan       -64 to -49             +CH up 20        4.90 to 5.05  dn 5
-
Midday basis for Soft White Wheat - ***MAXIMUM 10.5 PERCENT PROTEIN***
  Exporters are no longer bidding premiums for maximum 10.5% protein SWW.
-
Midday basis for Ordinary percent protein US 1 Hard Red Winter Wheat
Basis                                Change     Cash Bids       Change     Futures
Dec       -53 to -40 mostly  -46 +KCHup 1-unch    4.93 to 5.06  dn 23- 24  5.4575  H
-
Midday basis for 11.5 percent protein US 1 Hard Red Winter Wheat
Basis                                Change     Cash Bids       Change     Futures
Dec       15 to 20   mostly  15  +KCHup 1-unch    5.61 to 5.66  dn 23- 24  5.4575  H
Jan       20 to 25   +KCH            unch         5.66 to 5.71  dn 24
Feb       25 to 30   +KCH            unch         5.71 to 5.76  dn 24
Mar       30 to 34   +KCH            unch         5.76 to 5.80  dn 24
-
Midday basis for 14 percent protein US 1 Dark Northern Spring Wheat
Basis                                Change     Cash Bids       Change     Futures
Dec       118 to 145 mostly  130 +MNHup 1-unch    6.77 to 7.04  dn 22- 23  5.5875  H
Jan       140 to 150 +MNH            unch         6.99 to 7.09  dn 23
Feb       140 to 155 +MNH            unch         6.99 to 7.14  dn 23
Mar       140 to 160 +MNH            unch         6.99 to 7.19  dn 23
-
***Midday basis for 14 percent protein ***GUARANTEED*** US 1 Dark Northern Spring Wheat***
Basis                                Change     Cash Bids       Change     Futures
Dec       119 to 145 mostly  140 +MNHdn 2-unch    6.78 to 7.04  dn 25- 23  5.5875  H
Jan       143 to 160 +MNH            dn 3-unch    7.02 to 7.19  dn 26- 23
Feb       149 to 170 +MNH            dn 1-unch    7.08 to 7.29  dn 24- 23
Mar       150 to 175 +MNH            unch         7.09 to 7.34  dn 23

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

11:48     ts
.