Milling & Baking News - June 4, 2019 - 48

Ingredient Week

Bakery Flour
Bookings of bakery flour were limited
last week. Prices saw choppy adjustments from day to day but ended higher
for pan bread flour and soft flour, lower for spring grades. In the case of pan
bread flour, prices were quoted about
$2.35 a cwt higher than just two weeks
earlier as a short-covering rally took
hold in wheat futures and pulled flour
prices higher in its wake. Still, bread
flour prices were well below last year
and the recent five-year average.
There were a few instances of panic
buying during the futures runup. But
most bakers, having covered nearly all
their June needs and much of their flour
requirements for the third quarter, held
to the sidelines in the hope that the futures rally would run out of steam.
One miller indicated individual cookie-cracker and specialty bakers running
out of contract extended coverage into
July-September. Out of concern wheat
futures may not give back recent gains,
some bakers booked the futures component of flour contracts for OctoberDecember or even the first quarter of 2020.
Otherwise business was said to be light.
The stubbornly strong cash hard red
winter wheat basis remained an obstacle that pan bread bakers have been
loath to confront until absolutely necessary. The cash hard red spring wheat
basis, though, was quoted at what was
considered to be fairly attractive levels, and millers urged specialty bread
bakers and other spring grade users to

Bakery ﬂour

Family Flour
Sales of national and regional brands
of family flour were seasonally sluggish.
Carlot list prices were unchanged.
Demand was routine, and no significant pickup in orders was expected until
near the beginning of the 2019-20 school
year and the approach of the fall baking
season. Manufacturers began to consider
fall trade activation initiatives.
Most private label flour buyers, including mass merchandisers and grocery chains, have covered their flour
needs through August or even September. Individual buyers have extended
contract balances through December. MBN

Semolina
Bookings of semolina, granulars and
durum flour were light last week. Price
changes were minor.
The price of choice milling hard amber durum as quoted at the Chicago rail

No. 1 hard amber durum

Bulk, f.o.b. car, $ per cwt
- Change from - Year
May 31 May 24 May 17 ago
Kansas City
Bakers short patent
Bakers standard patent
Second clear
Third clear
Minneapolis
Spring short patent
Spring standard patent
High gluten
Whole wheat
Specialty whole wheat
Fancy spring clear
First spring clear
Rye, white
Chicago
Cracker
Fancy cake
New York
Winter/spring blend
Spring standard patent
High gluten
Fancy cake
Rye, white
Los Angeles
Bakers standard patent
Pastry
48 / June 4, 2019

extend their coverage of that component.
Distributors booked hand to mouth in
efforts to minimize exposure to the price
impact of raging wheat futures.
One miller indicated July-September
flour coverage was about 75% for pan
bread flour, 50% for spring grades and
35% for soft flour. Fourth-quarter coverage
was about 50% for pan bread flour, 30% for
spring grades and 20% for soft flour.
Mill grind averaged less than five
days during the holiday-shortened week
with a couple of mills closed because of
high water along the Mississippi river. MBN

gateway for delivery beyond remained
a nominal $7.20 a bu. The Minneapolis
price remained a nominal $6.90 a bu.
There was a carry in the cash durum
market of about 60c from nearby to October-December. The carry failed to discourage business in recent weeks. Pasta
manufacturers earlier covered nearly all
their third-quarter semolina needs, and
fourth-quarter coverage was estimated
at about 75%.
Durum mill grind averaged about 4½
days last week because of holiday downtime.
The U.S. Department of Agriculture indicated 74% of the North Dakota durum
crop was planted by May 26 compared
with 84% a year earlier and 78% as the recent five-year average for the date. Emergence was 31% compared with 44% as the
average progress. One per cent of the crop
was jointed. The Montana durum crop
was 73% planted compared with 48% a
week earlier, 84% a year ago and 89% as
the average for the date. Emergence was
30% versus 42% as the five-year average.
The U.S.D.A. indicated the Arizona
durum crop was 17% harvested by May
26 compared with 10% a week earlier
and 13% as the five-year average for the
date. Ninety-four per cent of the crop
was said to be mature. MBN

Bakers standard, Kansas City
Bulk, f.o.b. car, $ per cwt
$18.50
$16.50
$14.50

Track, Chicago
- Change from - Year
$ per bu
May 31 May 24 May 17 ago
Choice milling 13% 7.20
-
-
8.15

$12.50
J

D
Previous Year

15.90
15.80
8.85
...

0.80
0.80
-
...

1.50
1.50
-
...

17.05
16.95
8.85
...

Track, Minneapolis
$ per bu

14.75
14.65
15.65
14.65
15.00
14.50
14.40
22.20

-0.40
-0.40
-0.40
-0.40
-0.40
-0.40
-0.40
-0.20

0.65
0.65
0.65
0.65
0.65
0.65
0.65
-0.20

17.40
17.30
20.30
17.30
17.65
17.15
17.05
14.25

Bulk, f.o.b. Minneapolis, $ per cwt
- Change from -
May 31 May 24 May 17
Semolina
17.55
-.15
-.15
Granulars
17.35
-.15
-.15
Flour
17.25
-.15
-.15
First clear
14.50
-
-
Second clear
8.00
-
-
Semolina - N.Y. 20.75
-.15
-.15

13.70
15.20

0.15
0.15

0.85
0.85

13.95
15.45

18.30
16.50
17.50
17.20
24.70

0.80
-0.35
-0.35
0.15
-0.20

1.50
0.70
0.70
0.85
-0.20

19.45
19.25
22.25
17.45
16.75

20.50
20.55

0.80
0.80

1.50
1.50

21.85
21.90

Milling & Baking News

Choice milling 13% 6.90

M
Current Year

Spring standard, Minneapolis
-

7.85

Semolina

$22.00
$20.00

Year
ago
19.85
19.65
19.55
15.50
8.50
23.05

Nationally advertised family ﬂour

$18.00
$16.00
$14.00
$12.00
J

D
Previous Year

M
Current Year

Cracker ﬂour, Chicago
Bulk, f.o.b. car, $ per cwt
$15.00

Dollars
May 31
Family patent, 2-25s papers 24.12
4-10s
n.a.
8-5s
18.52
18-2s
20.64
Self-rising
n.a.

Bulk, f.o.b. car, $ per cwt

Year ago
24.12
n.a.
18.52
20.64
n.a.

$13.50
$12.00
$10.50
J

S
Previous Year

M
Current Year

bakingbusiness.com / world-grain.com

http://www.bakingbusiness.com http://www.world-grain.com

Milling & Baking News - June 4, 2019

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