Milling & Baking News - June 14, 2022 - 41

June 10
NO. 1 HARD WINTER
- Change from -
Premium
11.2%
June 3
May 27
Year
ago
June 10
Ordinary 140 @ 150 -20 @ -20 -30 @ -30 115 @ 125
11%
140 @ 150 -35 @ -35 -35 @ -35 120 @ 130
145 @ 155 -30 @ -30 -30 @ -30 120 @ 130
11.4% 145 @ 155 -30 @ -30 -30 @ -30 125 @ 135
11.6% 145 @ 155 -30 @ -30 -30 @ -30 130 @ 140
11.8% 145 @ 155 -30 @ -30 -30 @ -30 135 @ 145
12%
12.2%
165 @ 175 -10 @ -10 -10 @ -10
165 @ 175 -10 @ -10 -10 @ -10
12.4% 165 @ 175 -12 @ -12 -10 @ -10
12.6% 165 @ 175 -20 @ -20 -10 @ -10
12.8% 165 @ 175 -20 @ -20 -10 @ -10
13%
13.2%
175 @ 185 -15 @ -15 -15 @ -15
175 @ 185 -15 @ -15 -15 @ -15
13.4% 175 @ 185 -15 @ -15 -15 @ -15
13.6% 175 @ 185 -15 @ -15 -15 @ -15
13.8% 175 @ 185 -15 @ -15 -15 @ -15
14%
175 @ 185 -15 @ -15 -15 @ -15
Basis Kansas City July, cents per bu
Cash Wheat
HARD WINTER. The hard red winter
wheat basis in Kansas City was 10¢ to 35¢
a bu lower last week. Millers successfully
" walked down " the basis as harvest loomed
in the central Plains region, a trader said.
Plenty of chatter took place in the toarrive
market, but participants held back
from trades with new crop on the horizon
and carries in the market, traders said.
The hard red winter wheat harvest continued
in Texas and Oklahoma. Widespread
rains hindered cutting in both states. The
US Department of Agriculture said harvest
completion on June 5 was 36% in Texas (22%
a week earlier, 38% as the recent five-year
average) and 15% in Oklahoma (6% and 13%).
The Oklahoma Wheat Commission said the
state's harvest had advanced to 20% by June 7.
The USDA in its June Crop Production
report forecast 2022 hard red winter production
at 581,801,000 bus, down 1% from its May
forecast and down 22% from 2021. The average
of pre-report trade expectations for hard
red winter was 585 million bus. Oklahoma
production was seen at 64,800,000 bus, up
8% from May but down 44% from 2021. Texas
production was pegged at 40,300,000 bus,
down 3% from May and down 46% from 2021.
Colorado production was seen at 44,800,000
bus, down 10% from May and down 36% from
2021. Production forecasts for Kansas and
Nebraska were unchanged from May but
down from 2021. South Dakota production
was seen up from May and from 2021. Montana
production was pegged lower than May,
but up from 2021.
Winter wheat headed on June 5 was 98%
in Kansas (97% as average), 78% in Colorado
(80%), 74% in Nebraska, 33% in South Dakota
(48%) and 8% in Montana (8%), the USDA said.
Winter wheat rated good to excellent
was 29% in Kansas (27% a week earlier), 10%
bakingbusiness.com
140 @ 150
140 @ 150
140 @ 150
140 @ 150
145 @ 155
150 @ 160
150 @ 160
150 @ 160
150 @ 160
150 @ 160
150 @ 160
Ordinary
11%
12%
13%
13.5%
14%
14.5%
NO. 1 HARD SPRING
- Change from -
Premium
. . .
. . .
. . .
. . .
. . .
225
. . .
. . .
. . .
June 3
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
. . .
May 27
. . .
. . .
. . .
. . .
. . .
+75
. . .
. . .
. . .
Year
ago
...
...
...
...
85
100 @ 120
90
15% 230 @ 245 +90 @ +45 +94 @ +45 100 @ 165
16%
17%
...
...
Basis Minneapolis July, delivered Chicago\beyond cents per bu
For shipment
June
July
GULF EXPORT BIDS AND OFFERS
Offer
June 10
Bid
No. 1 Hard 12%, Track Gulf
+153 July
August
+150 July
+145 Sep.
September +145 Sep.
June
July
August
+25 July
+25 July
+25 Sep.
September +42 Sep.
Basis Chicago future, cents per bu
in Oklahoma (8%), 6% in Texas (5%), 19% in
Colorado (18%), 29% in Nebraska (29%), 42% in
South Dakota (33%) and 23% in Montana (14%).
Salina wheat bids nearby through July
were 15¢ under KC July; new crop, 15¢
under Sept. Hutchinson wheat bids nearby
through July were 15¢ under KC July; new
crop, 15¢ under September. Wichita elevator
bids through July were 30¢ under KC July.
Gulf bids on 12%- protein hard red winter
wheat for nearby were 153¢ over KC July;
July, 150¢ over July.
HARD SPRING. Premiums on hard red
spring wheat were 45¢ to 90¢ a bu higher
with only two proteins quoted at week's end.
The US Department of Agriculture indicated
spring wheat was 82% planted in the
six US production states by June 5 compared
with 99% a year earlier and 97% as the 2017-21
average for the date. Spring wheat was 74%
planted in North Dakota (59% a week earlier),
98% in South Dakota (97%), 65% in Minnesota
(53%), 97% in Montana (94%), and 98% in Idaho
(96%). Spring wheat was 55% emerged in the
six states compared with 89% a year earlier
and 83% as the recent five-year average.
Some North Dakota growers were only
50% planted by June 7 in sharp contrast to
most years when the crop is fully seeded by
the second week in June, the North Dakota
Wheat Commission said in a weekly update.
Cool, wet spring weather and excessive soil
moisture hindered planting progress and
163
160
155
155
Basis Kansas City future, cents per bu
No. 2 Soft Red, c.i.f. New Orleans
32
32
35
60
+60 July
+55 July
+55 Sep.
+65 Sep.
For shipment
Year ago
Bid
+165 July
+167 July
+168 Sep.
+168 Sep.
June
July
June
July
135
185
235
285
335
385
85
JS DM
PACIFIC NORTHWEST
June 10
Bid
June 3
No. 1 Soft White, Track, Portland
11.32
11.32
11.32
August
$ per bu
August
June
July
1.20
1.10
Basis Kansas City future, $ per bu
No. 1 Spring 14%, Track, Portland
1.05
1.05
1.05
August
Basis Minneapolis future, $ per bu
emergence, but those factors varied widely
across North Dakota, with some fields still
too wet approaching the June 10-15 closing of
the ideal seeding window, ND Wheat said.
SOFT RED. St. Louis-area mill bids nearby
on soft red winter wheat were 3¢ a bu over
Chicago July; August, 15¢ under September.
Toledo mill bids nearby through September
were the Chicago September price; OctoberDecember,
25¢ over Chicago December.
Elevator nearby bid was 15¢ under Chicago
July; new crop, 15¢ under July. Cincinnati
elevator had no nearby bid; new crop 60¢
under Chicago July. Michigan soft white
winter wheat mill bids nearby into new crop
were 15¢ over Chicago Sept; soft red winter
wheat mill bids nearby into new crop ranged
from the September price to 5¢ under September.
Gulf bids on soft red winter wheat
nearby through July were 25¢ over Chicago
July; August, 25¢ over September.
The USDA forecast 2022 soft red winter
wheat production at 357,953,000 bus, up 1%
from its May forecast but down 8% from
2021. Soft white winter production was forecast
at 226,324,000 bus, up 6% from the May
forecast and up 54% from 2021.
The USDA said wheat rated good to excellent
on June 5 was 62% in Missouri, 77% in
Illinois, 67% in Indiana, 61% in Ohio and 58%
in Michigan. The USDA said winter wheat
harvested by June 5 was 17% in North Carolina,
15% in Arkansas and 1% in Missouri. MBN
MILLING & BAKING NEWS 41
-
-
-
-
-
-
1.00
1.05
1.05
-
-
-
No. 1 Hard 11.5%, Track, Portland
1.20
-
-
-
NO. 1 HARD WINTER PREMIUMS, 12.2%
- Change from -
May 27
-.33
-.33
-.33
-
-
-
Year
ago
9.35
9.35
9.35
1.20
1.20
1.20
basis Kansas City, cents per bu
http://www.bakingbusiness.com
Milling & Baking News - June 14, 2022

Table of Contents for the Digital Edition of Milling & Baking News - June 14, 2022
