MS_GR110 Minneapolis, MN Fri Feb 10, 2012 USDA Market News Minneapolis Daily CASH Grain Report Est Early Morning Receipts Rail Feb 10 Year Ago Wheat 31 64 Durum 0 10 Barley 1 0 Actual wheat receipts on the exchange floor: Today's were 68 cars which included 2 trains. Last year's were 51 cars which included 0 trains. Minneapolis Daily Exchange Grain Prices Delivered Chicago/Beyond: Spot No. 1 Northern/Dark Northern Spring Wheat 13 to 15 pct protein wheat was 42.50 to 62.50 cents lower from 9.0425B-9.5925. The Spring Wheat basis was 25 to 45 cents lower. Current freight spread for unload to Minneapolis is 15 cents; Duluth 22-24 cents. ***PLEASE NOTE: Prices prior to Jan 4, 2010 were for Minneapolis beyond; the provided freight rate differential to Minneapolis is for Minneapolis unload. Only the spot wheat/durum rail market is being quoted delivered Chicago/Beyond. The to-arrive wheat is truck delivered and on a Minneapolis or Duluth based market. NOTE: The 13.5 and 14.5 pct protein category will be added on days when it can more clearly represent the value of the 14's. Prices Reflect No. 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. RAIL - Spot Change TRUCK Wheat on MGEX Floor/Delivered Chicago/Beyond 20 Day To-Arrive US 1 Milling DNS/NS Wheat Mpls Dul 11 Pct No Quote - - - - - - 12 Pct No Quote - - - - - - 13 Pct No Quote - - 8.5425 - - 14 Pct 9.0425B no comp 8.7925 - - 15 Pct 9.1925 -9.5925 dn 62.5-42.5 8.8925 - - 16 Pct No Quote - - - - - - 17 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 9.1925 no comp US 2 8.9425B* dn 67.5 US 3 No Quote - - *Train The Balance Spring Wheat does not meet domestic milling specifications and is traded at a basis price with market discounts on other grade factors. US 1 Hard Red Winter Wheat Mpls 10 Pct No Quote - - 11 Pct No Quote - - 6.9925 12 Pct No Quote - - 7.4925 13 Pct No Quote - - 7.5925 14 Pct No Quote - - Milling Durum: 0 Cars traded with 0 at the Top Choice MilNo Quote - - Balance MiNo Quote - - Terminal -No Quote - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - The following information is quoted Minneapolis, NOT Chicago/Beyond. RAIL - Spot Change TRUCK-To-Arrive Rye: Mpls US 1 PlumpNo Quote - - - - US 2 No Quote - - - - Barley: US 2 Feed Dul No Quote - - - - Mpls 5.2500B unch 5.2500 US 2 Yellow Corn Mpls No Bid - - - - More corn bids: Apr 6.105; May 6.125; Jun 6.1425; Jul 6.1625; Aug 5.725 Oct 5.0775. US 1 Yellow Soybeans Mpls No Bid - - - - More soybean bids: Apr 12.095; May 12.095; Jun 12.19; Jul 12.19; Aug 12.0175; Oct 11.895. Oats: TRUCK 20 Day To-Arrive US 2 or Better 3.3300 - 3.5300 No Quote - - RAIL 20 Day To-Arrive 3.3300 - 3.5300 Malting Barley - 2.0 ppm or less vomitoxin Robust 70 Pct Btr Plump No Quote - - 7.0500** **To-Arrive Malting barley is Rail delivered Minneapolis for 1.0 ppm vomitoxin with discounts to apply. Mpls=Minneapolis Dul=Duluth N=Nominal R/O= River Open A=Asked B=Bid NB=No Bid NQ=No Quote NC=New Crop January 2012 AVERAGES Average prices are for spot market unless otherwise denoted. MGEX wheat/Delivered Chicago/Beyond No 1 DNS Wheat 13% protein 9.0206 14% protein 9.4298 15% protein 9.8409 No 1 Hard Amber Durum No Quote Minneapolis Based Price Rye Spot No Quote To-Arrive No Quote No 2 Yellow Corn No Quote No 2 Heavy Oats 3.1609 (20 Day To-Arrive Average) No 3 or better Malting Barley 7.2025 (20 Day To-Arrive Average) No 2 Feed Barley 5.2375 No 1 Yellow Soybeans No Quote Source: USDA Market News Service, Minneapolis, MN Carol Meinders 612-370-3258 Minneapolis.LGMN@ams.usda.gov 24 hour price information 612-370-3260 www.ams.usda.gov/mnreports/MS_GR110.txt www.ams.usda.gov/lsmarketnews 13:46 c cam