Milling & Baking News - May 3, 2022 - 49

Apr. 29
11.2%
NO. 1 HARD WINTER
- Change from -
Premium
275 @ 285
Apr. 22
-
Apr. 14
Year
ago
Apr. 29
Ordinary 275 @ 285 +20 @ +20 +40 @ +40 118 @ 128
11%
+40 @ +40 118 @ 128
275 @ 285 -5 @ -5 +20 @ +20 118 @ 128
11.4% 275 @ 285 -13 @ -13 +20 @ +20 129 @ 139
11.6% 275 @ 285 -13 @ -13 +20 @ +20 135 @ 145
11.8% 275 @ 285 -13 @ -13 +20 @ +20 135 @ 145
12%
12.2%
275 @ 285 -13 @ -13 +20 @ +20 135 @ 145
275 @ 285 -13 @ -13 +20 @ +20 135 @ 145
12.4% 275 @ 285 -13 @ -13 +20 @ +20 135 @ 145
12.6% 275 @ 285 -13 @ -13 +20 @ +20 135 @ 145
12.8% 275 @ 285 -13 @ -13 +20 @ +20 137 @ 147
13% 275 @ 285 -13 @ -13 +20 @ +20 137 @ 147
13.2%
275 @ 285 -13 @ -13 +20 @ +20 137 @ 147
13.4% 275 @ 285 -13 @ -13 +20 @ +20 137 @ 147
13.6% 275 @ 285 -13 @ -13 +20 @ +20 138 @ 148
13.8% 275 @ 285 -13 @ -13 +20 @ +20 138 @ 148
14% 275 @ 285 -13 @ -13 +20 @ +20 138 @ 148
Basis Kansas City July, cents per bu
Cash Wheat
HARD WINTER. The hard red winter
wheat basis in Kansas City was 20¢ a bu
higher to 13¢ lower last week. On April 28,
all sales rolled to the Kansas City July future
at a 5¢ premium to May and the following
day the basis flattened across the entire protein
scale to 275@285¢ over July.
" There's just no premium for high-protein
wheat, just not as much emphasis on it right
now, possibly because more high-protein
supplies have been on the market lately, " a
merchandiser said.
In the market for to-arrive wheat, limited
tire-kicking has not yet resulted in trades
as sellers were patiently waiting for a better
read on the crop, perhaps in the May 12 US
Department of Agriculture Crop Production
report and from the Wheat Quality Council's
May 16-19 hard winter wheat tour.
Scouts taking part in the annual tour
may see dry, dusty fields. The April 26 US
Drought Monitor said drought conditions
persist across nearly all hard red winter
production areas, including all of Nebraska,
Colorado and Texas, and the western parts
of Kansas and Oklahoma.
The USDA said 69% of US winter wheat
was growing in drought, the vast majority in
the Northern, Central and Southern Plains.
The USDA said winter wheat rated in goodto-excellent
condition as of April 24 was 26%
in Kansas (33% a week earlier), 16% in Oklahoma
(21%), 8% in Texas (6%), 17% in Colorado
(14%), 24% in Nebraska (27%), 17% in South
Dakota (20%) and 19% in Montana (16%).
" (Condition ratings) don't mean much this
time of year, it's still April, " a trader observed.
" If it was end of May, I would have more
concern. Things can turn around in a hurry,
especially for grains and grasses like wheat. "
Salina wheat bids nearby through July
were 15¢ under KC July; August-September,
bakingbusiness.com
For shipment
May
GULF EXPORT BIDS AND OFFERS
Offer
Apr. 29
Bid
No. 1 Hard 12%, Track Gulf
+175 July
June
July
August
May
June
July
August
+157 July
+157 July
+152 Sep.
+60 May
+40 July
+40 July
+40 Sep.
Basis Chicago future, cents per bu
15¢ under September. Hutchinson wheat
bids nearby through June were 15¢ under
KC July; new crop, 15¢ under September.
Wichita elevator bids through May 14 were
57¢ under KC July; last-half May through
July, 25¢ under July. Gulf bids on 12%-protein
hard red winter wheat for nearby were 175¢
over KC July; June-July, 157¢ over July.
HARD SPRING. Premiums on milling quality
hard red spring wheat in Minneapolis
were unchanged to 30¢ a bu higher.
The USDA's assessment of the April 26 US
Drought Monitor said 35% of spring wheat
production areas were in drought.
The North Dakota Wheat Commission in
its weekly wheat update provided details on
what has been a difficult weather month for
growers. While precipitation was welcomed
in drought-affected areas, a combination of
rain, sleet, snow, and colder-than-normal
temperatures have further delayed planting,
which had just begun in some areas
before the mid-April blizzard.
" The western portion of the state saw
mostly snow with some areas receiving as
much as an additional 10 to 12 inches, on top of
the 20 to 40 inches some regions of the state
received the previous week, " ND Wheat said.
" The eastern part of state had tornado warnings
and rain that has led to flooding in some
areas. Little to no field activity was expected
for two to three weeks. "
Statistics Canada forecast Canadian area
185
167
167
162
Basis Kansas City future, cents per bu
No. 2 Soft Red, c.i.f. New Orleans
100
55
55
55
+100 May
+58 July
+58 July
+75 Sep.
For shipment
Year ago
Bid
+140 May
+150 July
+150 July
...
Ordinary
11%
12%
13%
13.5%
NO. 1 HARD SPRING
- Change from -
Premium
. . .
. . .
. . .
. . .
. . .
14% 180 @ 200
14.5%
150
. . .
. . .
Apr. 22
. . .
. . .
. . .
. . .
. . .
0 @ +20
-
15% 180 @ 230 +30 @ 0
16%
17%
. . .
. . .
Apr. 14
. . .
. . .
. . .
. . .
. . .
Year
ago
. . .
. . .
. . .
115
115
0 @ +20 128 @ 130
0 @ -25 100 @ 105
+30 @ +5 130 @ 145
. . .
. . .
. . .
. . .
Basis Minneapolis July, delivered Chicago\beyond cents per bu
135
185
235
285
335
385
85
AJ OJ
PACIFIC NORTHWEST
Apr. 29
Bid
June
July
$ per bu
No. 1 Hard 11.5%, Track, Portland
1.00
June
July
May
June
July
1.00
0.75
Basis Kansas City future, $ per bu
No. 1 Spring 14%, Track, Portland
0.80
0.80
. . .
-
-
. . .
Basis Minneapolis future, $ per bu
planted to spring wheat in 2022 at 17.634 million
acres, up 7% from 16.481 million acres in
2021 but down 1.6% from 2020.
The USDA said spring wheat seeding by
April 24 was 13% completed, behind 27% a
year ago and 15% as the recent five-year average
for the date. Seeding completion was 4%
in North Dakota (21% a year ago, 8% as the
five-year average for the date); 36% in South
Dakota (61%, 35%), 0% in Minnesota (18%, 8%)
and 18% in Montana (19%, 14%).
SOFT RED. The USDA said winter wheat rated
in good to excellent condition as of April 24 was
59% in Missouri (57% a week earlier), 40% in
Illinois (45%), 64% in Indiana (62%), 66% in Ohio
(62%) and 38% in Michigan (43%). Winter wheat
headed was 3% in Missouri (18% as the recent
five-year average) and 5% in Illinois (12%).
St. Louis-area mill bids nearby on soft red
winter wheat were 10¢ over Chicago July.
Toledo mill bids nearby through September
were the Chicago September price; OctoberDecember,
20¢ over Dec. The elevator nearby
bid was 30¢ under Chicago May; new crop,
20¢ under July. The Cincinnati elevator had
no nearby bid; new crop, 75¢ under Chicago
July. Michigan soft white winter wheat mill
bids nearby into new crop were 25¢ over
Chicago Sept.; soft red winter wheat mill bids
nearby into new crop were 15¢ over Sept.
Gulf bids on soft red winter wheat for April
were 90¢ over Chicago May, up 15¢; May, 60¢
over May; June-July, 40¢ over July. MBN
MILLING & BAKING NEWS 49
-
-
. . .
1.25
1.20
. . .
-
-
-
May
-
-
-
1.25
1.20
1.20
. . .
. . .
. . .
Apr. 22
No. 1 Soft White, Track, Portland
May
. . .
. . .
. . .
NO. 1 HARD WINTER PREMIUMS, 12.2%
- Change from -
Apr. 14
. . .
. . .
. . .
Year
ago
7.90
7.90
7.90
basis Kansas City, cents per bu
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Milling & Baking News - May 3, 2022

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