Minneapolis Basis Report
MS_GR112
Minneapolis, MN    Wed May 16, 2018    USDA Market News

Minneapolis Daily BASIS Report

Actual wheat receipts on the exchange floor:
Today's were 36 cars which included 1 trains.
Last year's were 90 cars which included 1 trains.

Minneapolis Grain Exchange Daily Grain Prices Delivered Chicago/Beyond: Spot
No. 1 Milling Northern/Dark Northern Spring Wheat.  The spring Wheat 12 to
15 pct basis was steady to 10 cents higher.

***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           - -               +5        - -
  13.5 Pct+130               up 5              - -       - -
  14 Pct  +135B* to +150     up 10 - unch      +30       - -
  14.5 Pct+155               unch              - -       - -
  15 Pct  +180               no comp           +40       - -
  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    No Quote           - -
  US 2    +170               no comp
  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 - May     BASIS KC -Jul
  10 Pct  No Quote           - -
  11 Pct  No Quote           - -               +45
  12 Pct  No Quote           - -               +55
  13 Pct  No Quote           - -               +55
  14 Pct  No Quote           - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.

US 2 Yellow Corn - Jul futures                 Mpls - Jul
 Mpls            -44   B     up 1              -44
More corn bids:  July -43 (N); Aug -47 (U); Oct -55 (Z); F/H Nov -47 (Z);

US 1 Yellow Soybeans - Jul futures             Mpls - Jul
 Mpls            -59   B     unch              -55
More soybean bids:  Jul -51 (N); Aug -50 (Q); Oct -65 (X); F/H Nov -51 (X);

Oats:            BASIS Jul                     Mpls - Jul
                                               Truck 20 Day To-Arrive
 US 2 or Better  No Quote    - -               +25 to +70
                                               Rail 20 Day To-Arrive
                                               +25 to +70

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
           612-370-3258 Minnesota.LPGMN@ams.usda.gov
          24 hour price information 612-370-3260
          www.ams.usda.gov/mnreports/ms_gr112.txt
          www.ams.usda.gov/lpsmarketnewspage


13:35     c  kmb