JO_GR111
Portland, OR         Thu  Jul 09, 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
Sep           CU       5.2225    up 5

Kansas City Hard Red Winter
                                 Change
Jul           KCN      5.4300    up 5.25
Sep           KCU      5.5150    up 5
Dec           KCZ      5.6850    up 5.25
Mar           KCH      5.8475    up 5.25

Minneapolis Hard Red Spring
                                 Change
Jul           MNN      6.0500    up 4
Sep           MNU      6.0750    up 3
Dec           MNZ      6.1775    up 3.75
Mar           MNH      6.2850    up 4.25


Midday basis for Soft White Wheat - ANY PROTEIN
Basis                                Change     Cash Bids       Change     Futures
Jul       28 to 33   mostly  31  +CU dn 10- 5     5.50 to 5.55  dn 5-unch  5.2225  U
Aug NC    30 to 36               +CU dn 8- 7      5.52 to 5.58  dn 3- 2
-
Midday basis for Soft White Wheat - ***MAXIMUM 10.5 PERCENT PROTEIN***
Basis                                Change     Cash Bids       Change     Futures
Jul       28 to 33   mostly  31  +CU dn 10- 5     5.50 to 5.55  dn 5-unch  5.2225  U
Aug NC    30 to 36               +CU dn 8- 7      5.52 to 5.58  dn 3- 2
-
Midday basis for Ordinary percent protein US 1 Hard Red Winter Wheat
Basis                                Change     Cash Bids       Change     Futures
Jul       -25 to -13 mostly  -19 +KCUunch         5.27 to 5.39  up 5       5.5150  U
-
Midday basis for 11.5 percent protein US 1 Hard Red Winter Wheat
Basis                                Change     Cash Bids       Change     Futures
Jul       35 to 45   mostly  40  +KCUunch         5.87 to 5.97  up 5       5.5150  U
Aug       30 to 47   +KCU            unch         5.82 to 5.99  up 5
Sep       40 to 55   +KCU            unch         5.92 to 6.07  up 5
Oct       35 to 51   +KCZ            dn 5-unch    6.04 to 6.20  up 1- 6    5.6850  Z
Nov       40 to 58   +KCZ            dn 5-unch    6.09 to 6.27  up 1- 6
-
Midday basis for 14 percent protein US 1 Dark Northern Spring Wheat
Basis                                Change     Cash Bids       Change     Futures
Jul       95 to 108  mostly  102 +MNUunch-up 8    7.03 to 7.16  up 3- 11   6.0750  U
Aug       92 to 105  +MNU            unch-up 5    7.00 to 7.13  up 3- 8
Sep       85 to 105  +MNU            dn 5-up 5    6.93 to 7.13  dn 2-up 8
Oct       85 to 95   +MNZ            unch-up 3    7.03 to 7.13  up 4- 7    6.1775  Z
Nov       90 to 100  +MNZ            unch-up 5    7.08 to 7.18  up 4- 9
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
          Erika Sorenson             (503) 326-2237
          www.ams.usda.gov/mnreports/JO_GR111.txt

11:53
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