JO_GR111
Portland, OR    Thu  Feb 09, 2012    USDA Market News

Pacific NW Wheat Basis Report:  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            6.4600     dn 14.75

Kansas City Hard Red Winter              Change
Mar            KCH            6.9200     dn 18
May            KCK            6.9950     dn 17.5
Jul            KCN            7.0725     dn 17
Sep            KCU            7.2000     dn 15.25

Minneapolis Hard Red Spring              Change
Mar            MNH            8.3175     dn 9.75
May            MNK            8.2025     dn 7.75
Jul            MNN            8.0575     dn 6
Sep            MNU            7.8050     dn 5.75

Midday basis for Soft White Wheat - delivered by Unit Trains and Barges
Basis                                    Change        Cash Bids     Change      Futures
Feb        54 to 69 mostly 64       +CH  up 45-15      7.00-7.15     up 30-unch  6.4600 H
Mar        54 to 69                 +CH  up 25-15      7.00-7.15     up 10-unch
-
Midday basis for Ordinary percent protein US 1 Hard Red Winter Wheat
Basis                                    Change        Cash Bids     Change      Futures
Feb        -37 to -20 mostly -31    +KCH unch-up 3     6.55-6.72     dn 18-15    6.9200 H
-
Midday basis for 11.5 percent protein US 1 Hard Red Winter Wheat
Basis                                    Change        Cash Bids     Change      Futures
Feb        68 to 73 mostly 70       +KCH up 1-dn 2     7.60-7.65     dn 17-20    6.9200 H
Mar        70 to 75                 +KCH unch          7.62-7.67     dn 18
Apr        59 to 66                 +KCK unch          7.59-7.66     dn 17       6.9950 K
May        64 to 70                 +KCK unch-up 2     7.64-7.70     dn 17-15
Jun        NA                       +KCN               NA                        7.0725 N
Aug NC     20 to 30                 +KCU unch          7.40-7.50     dn 15       7.2000 U
-
Midday basis for 14 percent protein US 1 Dark Northern Spring Wheat
Basis                                    Change        Cash Bids     Change      Futures
Feb        NA                       +MNH               NA                        8.3175 H
Mar        120 to 144               +MNH dn 15-1       9.52-9.76     dn 25-11
Apr        145 to 160               +MNK dn 5-unch     9.65-9.80     dn 13-8     8.2025 K
May        150 to 160               +MNK unch          9.70-9.80     dn 8
Jun        NA                       +MNN               NA                        8.0575 N
Aug NC     75 to 85                 +MNU unch          8.56-8.66     dn 5        7.8050 U
-

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
           Niki Davila 503-326-2237 Portland.LGMN@ams.usda.gov
           www.ams.usda.gov/mnreports/JO_GR111.txt
           www.ams.usda.gov/lsmarketnews

11:50      P nd