MS_GR115 Minneapolis, MN Thu May 16, 2013 USDA Market News Minneapolis Weekly Grain Summary Prices for the week ending Thursday May 16, 2013 **The prices for spring wheat on the spot rail market are now quoted delivered Chicago/Beyond.** The milling wheat market was lower this past week. Most mills have their needs met from prior contracts. Farmers are continuing to focus on spring planting. **Spring Wheat: Prices are for US 1 Dark Northern Spring Wheat with less than 2.0 pct Vomitoxin. The 14's were 6.50 to 16.50 cents lower from 8.9400- 9.1400, the basis was 5 to 15 cents higher from 90-110 cents over the July futures delivered Chicago/Beyond. The 15's had no comparison at 9.0900, the basis had no comparison at 105 cents over the July futures delivered Chicago/Beyond. The 12 pct protein Hard Red Winter Wheat on the spot floor had no comparison at 8.9650, the basis was 153 over the Kansas City July futures. The 20 day to-arrive truck delivery for 12 pct protein HRW bid into Minneapolis was 35.75 cents lower at 8.2850; the basis was steady at 85 cents over the Kansas City July futures. Durum: Choice and Balance Milling Durum had no quote. Both Minneapolis and Duluth terminal durum continued to have no quote. Rye: US 1 Rye had no quote on the spot market. The to-arrive Rye had no bid. Barley: Robust Malting Barley 60 pct or better plump max. 2.0 ppm vomitoxin had no quote. The to-arrive bid for 1.0 ppm vomitoxin rail delivered to Minneapolis was 5 cents lower at 6.70. Feed Barley delivered into Duluth closed the week with no bid. Feed Barley delivered into Minneapolis was 5 cents lower with a bid of 5.00. Corn: US 2 Yellow Corn was 3.25 cents lower at 6.6550 with the basis 4 cents higher at 24 cents over the July futures. The to-arrive bids for corn are: June 6.6550; July 6.6650; October at 4.8000 and November at 4.8700. Oats: US 2 or better Oats had no quote on the spot market. The To-arrive bids for oats were 4.75 cents lower from 3.9775-7.0775, the basis was steady at 20-30 cents over the July futures. Soybeans: US 1 Yellow Soybeans were 22.75 cents higher at 15.0250 with the basis 4 cents higher at 75 cents over the July futures. The to-arrive bids for soybeans are: June at 14.6750; July at 14.2750; October at 11.8250 and November at 11.8950. FUTURES Jul 13 Aug 13 Sep 13 Nov 13 Dec 13 Mar 14 MPLS Spring: 8.0400 - - 7.7650 - - 8.0225 8.1450 Kansas City HRW 7.4350 - - 7.5150 - - 7.6825 7.8200 CBOT Wheat 6.8775 - - 6.9600 - - 7.1300 7.3000 Corn 6.4150 - - 5.5375 - - 5.2400 5.3425 Oats 3.7775 - - 3.6950 - - 3.6200 3.6700 Soybeans 14.2750 13.5400 12.7150 12.1750 - - 12.2975 Cash Market Delivered 20 day truck This Week Last Week Wheat on MGEX Floor/Delivered Chicago/Beyond Mpls Duluth US 1 Milling DNS/NS Wheat 13 pct No Quote No Quote 8.2900 14 pct 8.94-9.14 9.105-9.205 8.3900 15 pct 9.09* No Quote 8.3900 Durum Choice MillingNo Quote No Quote - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - The following information is quoted Minneapolis, NOT Chicago/Beyond. ThisLast Week Mpls Duluth Rye, US 1 No Quote No Quote 0.0000 - - Oats US 2 or Btr No Quote No Quote 3.9775-4.0775 Malting Barley Robust No Quote No Quote 6.7000 - - US 2 Feed Barley Mpls 5 B 5.05 B 5.0000 - - Yellow Corn US 2 6.655 B 6.6875 B 6.6550 - - Soybeans US 1 15.025 B 14.7975 B 14.6750 - - N = Nominal; A = Ask; B = Bid Source: USDA Market News Service, Minneapolis, MN Erika Sorenson 612-370-3258 Minneapolis.LGMN@ams.usda.gov 24 hour price information 612-370-3260 www.ams.usda.gov/mnreports/ms_gr115.txt www.ams.usda.gov/lpsmarketnewspage 14:05 c els