Milling & Baking News - October 17, 2023 - 38

MARKET trends
Bulk, f.o.b. car, per cwt
Bulk, f.o.b. car, per cwt
Bulk, f.o.b. car, per cwt
TUES | 1 0 17 2023
BAKERS STANDARD, KANSAS CITY
Bakery Flour
Bookings of bakery flour were limited but
picked up toward the back half of last week.
Spot flour prices were mixed with spring
grades and soft flour raised and pan bread
flour lowered.
Commercial bakeries, especially small
and mid-size operations, were the predominant
buyers of bakery flour in the view of
some millers. Others indicated consumer
packaged goods makers were more active.
Distributors kept purchases hand-to-mouth.
Flour ground from hard red winter wheat
sold the most volume, a switch from hard
spring-milled flours that took the lead in
weekly coverage estimates for most of
September. The shift could be traced to the
narrowing spread between Kansas City and
Minneapolis wheat futures. Minneapolis
December's $1.55 premium to KC December
on Aug. 18 narrowed by Oct. 13 to 53¢ a bu.
Overall, bookings were limited by the
down trend in price direction that many
buyers hoped would linger. Large bakers
and manufacturers, with coverage through
December locked in earlier, saw little risk in
holding back on first-half 2024 coverage in
case futures at multi-year lows dip further,
basis levels deteriorate while mill pipelines
are flush or millfeed prices ramp up as temperatures
finally began to cool.
" For now, the millfeed component is
depressing to buyers, so those who must
book now have turned to flat pricing to simply
book and move on to the next coverage
BAKERY FLOUR
Oct. 13
Kansas City
Bakers short patent
Bakers standard patent
Second 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
- Change from - Year
Oct. 6 Sept. 29 ago
17.50 -0.20
17.40 -0.20
8.85
-
18.75
18.65
19.55
18.65
19.00
18.50
18.40
0.10
0.10
0.10
0.10
0.10
0.10
0.10
12.10 0.05
13.60 0.05
19.90 -0.20
22.00 0.35
22.90 0.35
15.60 0.05
Los Angeles
Bakers standard patent 22.40 -0.20
Pastry
Bulk, f.o.b. car, $ per cwt
38 MILLING & BAKING NEWS
22.55 -0.20
0.05 23.70
0.05 23.60
- 8.85
0.25 23.05
0.25 22.95
0.25 23.85
0.25 22.95
0.25 23.30
0.25 22.80
0.25 22.70
24.75 -0.25 -0.35 22.45
0.60 18.70
0.60 20.20
0.05 26.10
0.95 25.90
0.95 26.80
0.60 22.20
27.25 -0.25 -0.35 24.95
0.05 28.60
0.05 28.75
requirement or opportunity, " a miller said.
Current-quarter coverage was estimated
at 75% for spring grades, 70% for pan bread
flour and 45% for soft flour. For the first,
second and third quarters, pan bread and
spring grade coverage estimates were 30%,
10% and 5%, respectively. Soft flour estimates
for the same quarters were 5%, 1% and 1%. MBN
Family Flour
Building momentum toward the peak of
the fall baking season, shipments of branded
and private label flour increased last week.
Carlot list prices were steady.
Millers surmised promotions were active
after reviewing robust order books. Some
millers added weekend packing line shifts to
handle increased volume to grocery, mass
merchandise and club store chains.
In recent weeks, the order-to-delivery
lead time for printed flour bags increased
by several weeks, which resulted in delayed
flour for some buyers, particularly those
who had changed suppliers. Smaller 2-lb
and 5-lb bags were the most requested, but
orders were steady for larger bags used to
supply institutions such as schools and prisons
or for flour to be sold through regional
restaurant distributors.
Private label buyers were covered
through January. Customers for whom
packaging delays have limited their retail
sales expected coverage could carry them
through the first quarter. Others locked in
full first-quarter needs earlier but added no
volume in the week. MBN
Semolina
Bookings of semolina, granulars and
durum flour were steady as pasta manufacturers,
watching durum values maintain
a downward slide, kept up a cautious
pace of coverage. Prices were lowered
alongside durum and without influence
from mostly static winter millfeed prices
Durum
Chicago
Minneapolis
DURUM AND SEMOLINA
Oct. 13
13.30
13.10
-.10
-.10
- Change from - Year
Oct. 6 Sept. 29 ago
-.20 13.25
-.20 13.05
No. 1 Hard Amber Durum Choice Milling 13%, Track, $ per bu
Semolina
Semolina
Granulars
Flour
First clear
Second clear
Semolina - NY
Oct. 13
31.75
31.55
31.45
15.00
7.50
35.05
Bulk, f.o.b. Minneapolis, $ per cwt
- Change from - Year
Oct. 6 Sept. 29 ago
-.40
-.40
-.40
-
-
-.40
-.75 30.15
-.75 29.95
-.75 29.85
- 15.00
- 7.50
-.75 33.35
$16.00
$22.00
$28.00
$34.00
OJ AJ
Previous Year
Current Year
SPRING STANDARD, MINNEAPOLIS
$16.00
$20.00
$24.00
$28.00
$32.00
$36.00
OJ AJ
Previous Year
CRACKER FLOUR, CHICAGO
$11.30
$14.30
$17.30
$20.30
$23.30
$26.30
$29.30
OJ AJ
Previous Year
Current Year
Current Year
near production areas in the Upper Midwest
and northern Plains.
The price of choice milling hard amber
durum as quoted at the Chicago rail gateway
for delivery beyond was $13.30 a bu, down
10¢ from a week earlier. Commercial bids to
growers dipped below $10 a bu, and offers
pulled lower shortly thereafter. Elevator
durum inventories appeared adequate to
ample, a miller said.
On the international market, Tunisia on
Oct. 13 purchased about 100,000 tonnes of
durum wheat for November shipment from
Italian and Canadian sellers.
Millers indicated the remaining 5% to
10% of current-quarter semolina coverage
would flow hand to mouth. For the first
quarter, the biggest area of interest to
semolina buyers, coverage was estimated
between 35% and 50%. April-June 2024 coverage
estimates were unchanged at 5% to
10% with millers noting most buyers were
in a wait-and-see mode.
" For three to four weeks, waiting longer
meant prices went lower, " a miller said. " Barring
a turnaround, they're pretty content to
let things work a little further in their favor,
see if they can squeeze a little bit more margin
out of it. (It's) not a bad play for now. " MBN
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Milling & Baking News - October 17, 2023

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