Minneapolis Basis Report
MS_GR112
Minneapolis, MN    Thu Oct 12, 2017    USDA Market News

Minneapolis Daily BASIS Report

Actual wheat receipts on the exchange floor:
Today's were 1 car which included 0 trains.
Last year's were 154 cars which included 3 trains.

Minneapolis Grain Exchange Daily Grain Prices Delivered Chicago/Beyond: Spot
No. 1 Milling Northern/Dark Northern Spring Wheat.  The spring Wheat 12 to
15 pct basis was steady to 5 cents higher.

***PLEASE NOTE: Prices prior to Jan 4, 2010 were for Minneapolis beyond; the
provided freight rate differential to Minneapolis is for Minneapolis unload.

Only the spot wheat/durum rail market is being quoted delivered Chicago/Beyond.
The to-arrive wheat is truck delivered and on a Minneapolis or Duluth based market.

** The basis is for US 1 Milling Quality Only.  Milling Quality is defined as
300 or better Falling Numbers; 58 lbs or better test weight; 13.5 Pct or less
moisture; 1.5 Pct or less Damage; 1.5 Pct or less Dockage and 2.0 ppm or
less vomitoxin**.

           RAIL - Spot         Change             TRUCK
 Wheat on MGEX Floor/Delivered Chicago/Beyond    20 Day To-Arrive
US 1 Milling DNS/NS Wheat                        Mpls       Duluth
           Dec                                   BASIS -Dec
  11 Pct   No Quote            - -               - -        - -
  12 Pct   No Quote            - -               - -        - -
  13 Pct   No Quote            - -               -20        - -
  13.5 Pct +80B                up 5              - -        - -
  14 Pct   +110N               unch              +5         - -
  14.5 Pct +110N               unch              - -        - -
  15 Pct   +150N               unch              +15        - -
  16 Pct   No Quote            - -               - -        - -
  17 Pct   No Quote            - -               - -        - -
    *Train

Balance Spring Wheat - 13 pct
  US 1     No Quote            - -
  US 2     No Quote            - -
  US 3     No Quote            - -
Balance Spring Wheat - 14 pct
  US 1     No Quote            - -
  US 2     No Quote            - -
  US 3     No Quote            - -
Balance Spring Wheat - 15 pct
  US 1     No Quote            - -
  US 2     No Quote            - -
  US 3     No Quote            - -
 *Train
The above Spring Wheat does not meet domestic milling specifications
and is traded at a basis price with market discounts on other grade
factors.
                                                 Mpls
US 1 Hard Red Winter Wheat  BASIS KC - Dec       BASIS KC - Dec
  10 Pct   No Quote            - -
  11 Pct   No Quote            - -               +20
  12 Pct   No Quote            - -               +30
  13 Pct   No Quote            - -               +30
  14 Pct   No Quote            - -

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
The following information is quoted Minneapolis, NOT Chicago/Beyond.

US 2 Yellow Corn - Dec futures                   Mpls - Dec
 Mpls             -58    B     unch              -57
More corn bids:  F/H Nov -48 (Z); L/H Apr -34 (K); May -34 (K); Jun -37 (N);
 Jul -38 (N)  .
US 1 Yellow Soybeans - Nov futures               Mpls - Nov
 Mpls             -65    B     unch              -62
More soybean bids:  F/H Nov -52 (X); L/H Apr -42 (K); May -39 (K); Jun -41 (N);
 Jul -42 (N)  .
Oats:             BASIS -Dec                     Mpls - Dec
                                                 Truck 20 Day To-Arrive
 US 2 or Better   No Quote     - -               +7 to +60
                                                 Rail 20 Day To-Arrive
                                                 +7 to +60

BASIS REPORT SYMBOLS:
January-F; February-G; March-H; April-J; May-K; June-M; July-N;
August-Q; September-U; October-V; November-X; December-Z

   Mpls=Minneapolis  Dul=Duluth KC=Kansas City  N=Nominal   R/O=River Open
   A=Asked   B=Bid   NB=No Bid   NQ=No Quote   NC=New Crop

Source:    USDA Market News Service, Minneapolis, MN
           612-370-3258 Minnesota.LPGMN@ams.usda.gov
           24 hour price information 612-370-3260
           www.ams.usda.gov/mnreports/ms_gr112.txt
           www.ams.usda.gov/lpsmarketnewspage


13:34c     kmb