Milling & Baking News - April 18, 2023 - 42

MARKET trends
Bulk, f.o.b. car, per cwt
Bulk, f.o.b. car, per cwt
Bulk, f.o.b. car, per cwt
TUES | 04 18 2023
BAKERS STANDARD, KANSAS CITY
Bakery Flour
Bookings of bakery flour were limited
last week. Prices were mixed. Pan bread
flour fell as lower KC basis and higher
millfeed prices more than offset higher
KC futures. Spring grades shot higher as
stronger Minneapolis basis and futures
prices easily offset higher millfeed values.
Some bakers were keen to cover outstanding
components to wrap up secondquarter
coverage. Wheat futures at times
provided an opportunity, declining under
pressure from profit taking, improved
weather forecasts that eased concerns
about the window for seeding hard red
spring wheat, and declining export sales.
Wheat futures also dipped lower after the
US Department of Agriculture raised its
forecast for US 2023 wheat carryover by
30 million bus and lowered its estimate for
world wheat ending stocks slightly.
Buyers overall were quiet in the week.
Exceptions were distributors and consumer
packaged goods manufacturers of
frozen breads, appetizers and entrees.
Coverage was estimated at 87% in the
current quarter for pan bread and spring
grade flours and at 70% for soft flour.
Third-quarter coverage estimates hit 50%
for flours milled from hard wheats and
30% for soft wheat flour. The former was
seen at 20% and 10% for the fourth and first
quarters, respectively, with soft flour coverage
at 10% and 5%, respectively, for the
periods. MBN
BAKERY FLOUR
Apr. 14
Kansas City
Bakers short patent
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
Bulk, f.o.b. car, $ per cwt
42
MILLING & BAKING NEWS
8.85
- Change from - Year
Apr. 6 Mar. 31 ago
22.90 -0.20 -0.80 31.70
Bakers standard patent 22.80 -0.20 -0.80 31.60
Second clear
-
23.25
23.15
24.05
23.15
23.50
23.00
22.90
15.90
17.40
1.15
1.15
1.15
1.15
1.15
1.15
1.15
25.25 -0.10
0.10
0.10
- 8.85
-0.40 28.65
-0.40 28.55
-0.40 29.55
-0.40 28.55
-0.40 28.90
-0.40 28.40
-0.40 28.30
- 24.10
-0.10 25.45
-0.10 26.95
25.30 -0.20 -0.80 34.10
24.50
25.40
19.40
1.05 -0.80 30.90
1.05 -0.80 31.90
0.10
27.75 -0.10
27.80
27.95 -0.20 -0.80 39.00
Family Flour
Seasonal sluggishness endured in the
market for family flour last week. Sales and
shipments of national and regional brands
were limited. Carlot list prices were steady.
Some flour manufacturers were shifting
production to prepare for periods
of extended maintenance during a slow
period expected to persist until just before
the 2023-24 school year kicks off in August.
A Mid-South miller was running three
shifts on a small bag line and one shift on
larger bags to build inventory ahead of
packing line maintenance in early May.
Millers said demand for the larger 10-lb
and 25-lb packages had softened after a
robust first quarter driven by institutional
purchases such as schools and prisons.
Promotions were limited to the tail end of
deals in place for Easter, set to expire at the
end of April. None were scheduled for summer
as " there is no bump to be had, so it's
not worth doing it, " a miller said.
Mass merchandisers listed private label
family flour in 5-lb bags for $2.24 and
branded bags from $3.83 to $5.24. A Midwest
grocery chain listed private label at
$3.19 a bag and branded from $4.59 to $4.99
a bag. MBN
Semolina
Bookings of semolina, granulars and
durum flour were limited last week. Prices
were lowered in consideration of firmer
Upper Midwest millfeed.
The price of choice milling hard amber
durum as quoted at the Chicago rail gateway
for delivery beyond was $11.75 a bu,
unchanged. Durum shipments were mostly
on contract. Spot trading was thin. Bids to
growers were steady at around $9 a bu.
" Overseas export demand this year has
taken some length out of the market, tightened
up ending stocks more and more, " a
miller said. " It's been sideways to bearish
DURUM AND SEMOLINA
Apr. 14
Durum
Chicago
Minneapolis
11.75
11.55
-
-
- Change from - Year
Apr. 6
Mar. 31 ago
-.05 16.25
-.05 16.05
No. 1 Hard Amber Durum Choice Milling 13%, Track, $ per bu
Semolina
-0.10 28.95
- 26.60
-0.20 -0.80 38.90
Semolina
Granulars
Flour
First clear
Second clear
Semolina - NY
Apr. 14
28.20
28.00
27.90
15.00
7.50
31.50
Bulk, f.o.b. Minneapolis, $ per cwt
- Change from - Year
Apr. 6
-.10
-.10
-.10
-
-
-.10
Mar. 31 ago
-.10 39.05
-.10 38.85
-.10 38.75
- 15.00
- 7.50
-.10 42.25
$12.00
$18.00
$24.00
$30.00
$36.00
AJ OJ
Previous Year
Current Year
SPRING STANDARD, MINNEAPOLIS
$12.00
$16.00
$20.00
$24.00
$28.00
$32.00
$36.00
AJ OJ
Previous Year
CRACKER FLOUR, CHICAGO
$11.30
$14.30
$17.30
$20.30
$23.30
$26.30
$29.30
AJ OJ
Previous Year
Current Year
for awhile. At some point there is going to
be more demand than supply. The question
is when or if we'll be able to bridge the gap
with desert durum and Mexican durum
until we get to new crop. "
Algeria's state grains agency OAIC on
April 13 bought between 400,000 and
450,000 tonnes of durum in an international
tender, European traders said. The purchase
was thought to be sourced from Canada and
Mexico in roughly equal volume. Millers
said the market tone from the news was
somewhat mixed.
" What does that mean for the market's
next direction? That's not clear, " a miller
said. " I'm sure it took a good chunk of length
out of the market, but the European and
Mexican crops will be here before too long.
Still, it's hard to be bearish today after Algeria
bought more than expected. "
The USDA forecast the US carryover of
durum on June 1, 2023, at 31 million bus, up
4 million bus from the March projection and
up 7 million bus from 2022.
The USDA in Phoenix on April 9 rated
Arizona durum 99% good to excellent and
said the crop was 52% headed compared with
39% a week earlier, 74% a year earlier and
59% as the recent five-year average. MBN
bakingbusiness.com
Current Year
http://www.bakingbusiness.com
Milling & Baking News - April 18, 2023

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