MS_GR112 **UPDATED CORN AND SOYBEANS** Minneapolis, MN Fri May 24, 2013 USDA Market News Minneapolis Daily BASIS Report Actual wheat receipts on the exchange floor: Today's were 131 cars which included 2 trains. Last year's were 23 cars which included 0 trains. Minneapolis Grain Exchange Daily Grain Prices Delivered Chicago/Beyond: Spot No. 1 Milling Northern/Dark Northern Spring Wheat. The spring Wheat 13 to 15 pct basis was steady to 10 cents higher. Current freight spread for unload to Minneapolis is 15-20 cents; Duluth 20-25 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. ** 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**. RAIL - Spot Change TRUCK Wheat on MGEX Floor/Delivered Chicago/Beyond 20 Day To-Arrive US 1 Milling DNS/NS Wheat Mpls Duluth Jul BASIS -Jul 11 Pct No Quote - - - - - - 12 Pct No Quote - - - - - - 13 Pct No Quote - - +25 - - 14 Pct +95 to +110B unch - up 10 +35 - - 15 Pct +115 to +130 up 5 - 10 +35 - - 16 Pct +135 no comp - - - - 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 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 KC - Jul BASIS KC - Jul 10 Pct No Quote - - 11 Pct No Quote - - +60 12 Pct +150N to +160 no comp +85 13 Pct No Quote - - +95 14 Pct No Quote - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - The following information is quoted Minneapolis, NOT Chicago/Beyond. US 2 Yellow Corn - Jul futures Mpls - Jul Mpls 35 B dn 3 31 More corn bids: L/H Jun 26 (N); Jul 27 (N); Oct -44 (Z); Nov -37 (Z); US 1 Yellow Soybeans - Jul futures Mpls - Jul Mpls 7 B dn 16 7 More soybean bids: L/H Jun 7 (N); Jul -6 (N); Oct -31 (X); Nov -24 (X); Oats: BASIS -Jul Mpls - Jul Truck 20 Day To-Arrive US 2 or Better No Quote - - +10 to +30 Rail 20 Day To-Arrive +10 to +30 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 KC=Kansas City N=Nominal R/O=River Open A=Asked B=Bid NB=No Bid NQ=No Quote NC=New Crop 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_gr112.txt www.ams.usda.gov/lpsmarketnewspage 14:30 c cam