Food Business News - May 12, 2020 - 68

INGREDIENT MARKETS

Wheat futures
Wheat futures posted mixed
changes with Kansas City hard red
winter futures declining except for the
expiring May contract but Chicago and
Minneapolis wheat futures advancing.
Wheat futures have been rangebound
since April 30 with markets looking for
a reason to break out to either the upside
or the downside.
Export demand for US wheat languished with the tender lineup having
thinned considerably. The US Department of Agriculture said net export
sales of US wheat for delivery in 2019-20
during the week ended April 30 totaled
244,800 tonnes, down 48% from a week
earlier and down 15% from the prior
four-week average. Additionally, 135,300
tonnes of wheat were sold for delivery in
2020-21.
Weather provided mixed signals.
Recent and forecast unseasonably cold
weather raised concerns over possible
frost and freeze damage to both hard red
winter and soft red winter wheat crops.
But winter wheat condition ratings in
the USDA's weekly Crop Progress report
were better than many had expected.
The USDA rated the condition of the crop
as of May 3 at 55% good to excellent compared with 54% a week earlier and 64%

Kansas City wheat futures

Millfeed
Prices declined, precipitously in
some areas, as supplies continued to
build and demand waned.
Flour mill runtimes continued to
improve incrementally. Increased grind

Chicago wheat futures

$6.50

Minneapolis wheat futures
$6.80

$6.20
$5.90
$5.60
$5.30
$5.00
$4.70
$4.40
$4.10

$5.90
$5.30
$4.70
$4.10
$3.50
M

A

N
Previous Year

F

$5.40
$4.70
A

N
Previous Year

Wheat futures

M

F

A

N
Previous Year

Current Year

F
Current Year

Bulk middlings
$ per ton, delivered rail unless noted

$ per bu; change in cents per bu
May 8
Kansas City
May
5.04
July
4.80
September 4.87¼
December 4.98½
Chicago
May
5.29½
July
5.22
September 5.25¼
December 5.33¾
Minneapolis
May
5.00
July
5.16
September 5.26¼
December 5.38¼

$6.10

M

Current Year

reflected anticipation of rising flour demand as cities and states begin to loosen
coronavirus restrictions.
Meanwhile, millfeed demand was
light. Feed mills running around the
clock a few weeks ago now were delaying orders after bagged feed demand
"fell off a cliff" a week earlier, a trader
said. Ranchers who stocked up earlier
amid supply uncertainty were pushing
back orders as feed demand faded into
summer.
Buyers with ingredient flexibility
had largely removed millfeed from rations, or reduced inclusion rates, in favor
of soy hulls, soybean meal, corn or even
rice products, traders said.
"We scared all the homes away"
with high prices and lack of availability
in April, one said. "It might take midds
falling to stupid-cheap prices to draw
customers feeling reformulation fatigue
back to millfeed."
Millfeed was $85 a ton in Kansas
City and $94 in Minneapolis, on a rail
basis, compared with corn at $114 a ton
and sorghum at $108 a ton, both KC
Corn gluten feed and dried distillers'
grain each were $10 lower at $165 and
$155 a ton, respectively, in KC, where
dehydrated alfalfa was steady at $300
a ton. FBN

May contract, per bu

May contract, per bu

May contract, per bu

68

a year ago. The crop was 32% headed by
May 3 compared with 21% a week earlier
and 38% as 2015-19 average for the date.
Improved weather in Europe and
parts of the Black Sea region has offered
resistance to futures.
Twenty-nine percent of the US
spring wheat crop was planted by May 3
compared with 14% a week earlier and
43% as the average, the USDA said.
Corn and soybean planting progress
was ahead of the average pace.
Statistics Canada, based on a survey
of Canadian farmers, forecast the area
planted to wheat in Canada for harvest
this year at 25.4 million acres, up 3%
from 24.6 million acres in 2019. It would
be the largest Canadian area planted to
wheat since 26 million acres in 2013 and
compared with 23.9 million acres as the
recent five-year average.
The USDA will issue new US and
world supply-and-demand tables on
May 12. FBN

- Change from - Week's
May 1 Apr. 24 High Low

Year
ago

+22c +29¼c
-3c -3¼c
-2½c -2¾c
-1½c -1¾c

5.04 4.75 3.79¼
4.88½ 4.73¼ 3.87
4.95½ 4.80½ 3.98
5.05¾ 4.92 4.19

+8c +2¾c
+5½c -8½c
+5c
-8c
+4¾c -6½c

5.33 5.16 4.19
5.27 5.05¾ 4.24¾
5.29½ 5.10½ 4.33¾
5.37½ 5.20 4.48¼

+1¾c +1c
+9¼c +2¾c
+8½c +1¾c
+7c
-

5.00 4.98¼ 5.08¾
5.16¾ 5.02 5.17
5.27 5.13¼ 5.25½
5.39 5.27 5.39½

Food Business News

Spot
Kansas City
85 @ 95
Southwest, f.o.b. truck
105 @ 115
Minneapolis
94 @ 104
Upper Midwest, f.o.b. truck 90 @ 100
Chicago West
107 @ 117
Central states, f.o.b truck
100 @ 110
Buffalo
95 @ 105
Southeast
110 @ 120
N. & S. California
134 @ 149
Los Angeles, f.o.b. truck
130 @ 145
Pacific Northwest
115 @ 125
Upper Midwest, sacked
320
Wheat germ
210 @ 230

May
85 @
95 @
94 @
90 @
107 @
100 @
95 @
110 @
134 @
130 @
115 @

95
105
104
100
117
110
105
120
149
145
125

- Change from -
Year
May 1 Apr. 24
ago
-15 @ -15 -10@ -10 55@ 65
-40 @ -45 -40@ -45 80@ 90
-55 @ -55 -40@ -40 74@ 84
-55 @ -55 -40@ -40 70@ 80
-55 @ -55 -40@ -40 87@ 97
-20 @ -20 -20@ -20 80@ 90
-35 @ -45 -35@ -45 80@ 90
-45 @ -55 -45@ -55 85@ 95
-
-
129@ 144
-
-
125@ 140
-5 @ -5
-5@ -5 100@ 110

June
July-Sept. Oct.-Dec.
85 @ 95
65 @ 75
87 @ 97
90 @ 100 100 @ 110 115 @ 125
87 @ 97
82 @ 92 112 @ 122
83 @ 93
78 @ 88 108 @ 118
100 @ 110
95 @ 105 125 @ 135
95 @ 105
90 @ 100 90 @ 110
95 @ 105
85 @ 100 90 @ 110
100 @ 110
90 @ 100 110 @ 120
134 @ 149 124 @ 139 134 @ 149
130 @ 145 120 @ 135 130 @ 145
95 @ 105 100 @ 110 115 @ 125

May 12, 2020



Food Business News - May 12, 2020

Table of Contents for the Digital Edition of Food Business News - May 12, 2020

Food Business News - May 12, 2020 - 1
Food Business News - May 12, 2020 - 1
Food Business News - May 12, 2020 - 2
Food Business News - May 12, 2020 - 3
Food Business News - May 12, 2020 - 4
Food Business News - May 12, 2020 - 5
Food Business News - May 12, 2020 - 6
Food Business News - May 12, 2020 - 7
Food Business News - May 12, 2020 - 8
Food Business News - May 12, 2020 - 9
Food Business News - May 12, 2020 - 10
Food Business News - May 12, 2020 - 11
Food Business News - May 12, 2020 - 12
Food Business News - May 12, 2020 - 13
Food Business News - May 12, 2020 - 14
Food Business News - May 12, 2020 - 15
Food Business News - May 12, 2020 - 16
Food Business News - May 12, 2020 - 17
Food Business News - May 12, 2020 - 18
Food Business News - May 12, 2020 - 19
Food Business News - May 12, 2020 - 20
Food Business News - May 12, 2020 - 21
Food Business News - May 12, 2020 - 22
Food Business News - May 12, 2020 - 23
Food Business News - May 12, 2020 - 24
Food Business News - May 12, 2020 - 25
Food Business News - May 12, 2020 - 26
Food Business News - May 12, 2020 - 27
Food Business News - May 12, 2020 - 28
Food Business News - May 12, 2020 - 29
Food Business News - May 12, 2020 - 30
Food Business News - May 12, 2020 - 31
Food Business News - May 12, 2020 - 32
Food Business News - May 12, 2020 - 33
Food Business News - May 12, 2020 - 34
Food Business News - May 12, 2020 - 35
Food Business News - May 12, 2020 - 36
Food Business News - May 12, 2020 - 37
Food Business News - May 12, 2020 - 38
Food Business News - May 12, 2020 - 39
Food Business News - May 12, 2020 - 40
Food Business News - May 12, 2020 - 41
Food Business News - May 12, 2020 - 42
Food Business News - May 12, 2020 - 43
Food Business News - May 12, 2020 - 44
Food Business News - May 12, 2020 - 45
Food Business News - May 12, 2020 - 46
Food Business News - May 12, 2020 - 47
Food Business News - May 12, 2020 - 48
Food Business News - May 12, 2020 - 49
Food Business News - May 12, 2020 - 50
Food Business News - May 12, 2020 - 51
Food Business News - May 12, 2020 - 52
Food Business News - May 12, 2020 - 53
Food Business News - May 12, 2020 - 54
Food Business News - May 12, 2020 - 55
Food Business News - May 12, 2020 - 56
Food Business News - May 12, 2020 - 57
Food Business News - May 12, 2020 - 58
Food Business News - May 12, 2020 - 59
Food Business News - May 12, 2020 - 60
Food Business News - May 12, 2020 - 61
Food Business News - May 12, 2020 - 62
Food Business News - May 12, 2020 - 63
Food Business News - May 12, 2020 - 64
Food Business News - May 12, 2020 - 65
Food Business News - May 12, 2020 - 66
Food Business News - May 12, 2020 - 67
Food Business News - May 12, 2020 - 68
Food Business News - May 12, 2020 - 69
Food Business News - May 12, 2020 - 70
Food Business News - May 12, 2020 - 71
Food Business News - May 12, 2020 - 72
Food Business News - May 12, 2020 - 73
Food Business News - May 12, 2020 - 74
Food Business News - May 12, 2020 - 75
Food Business News - May 12, 2020 - 76
Food Business News - May 12, 2020 - 77
Food Business News - May 12, 2020 - 78
Food Business News - May 12, 2020 - 79
Food Business News - May 12, 2020 - 80
http://digital.foodbusinessnews.net/sosland/fbn/2020_05_26
http://digital.foodbusinessnews.net/sosland/fbn/2020_05_12
http://digital.foodbusinessnews.net/sosland/fbn/2020_04_28
http://digital.foodbusinessnews.net/sosland/fbn/2020_04_14
http://digital.foodbusinessnews.net/sosland/fbn/2020_03_31
http://digital.foodbusinessnews.net/sosland/fbn/2020_03_17
http://digital.foodbusinessnews.net/sosland/fbn/2020_03_03
http://digital.foodbusinessnews.net/sosland/fbn/2020_02_18
http://digital.foodbusinessnews.net/sosland/fbn/2020_02_04
http://digital.foodbusinessnews.net/sosland/fbn/2020_01_21
http://digital.foodbusinessnews.net/sosland/fbn/fbn/2020_01_07
http://digital.foodbusinessnews.net/sosland/fbn/2019_12_24
http://digital.foodbusinessnews.net/sosland/fbn/2019_12_10
http://digital.foodbusinessnews.net/sosland/fbn/2019_11_26
http://digital.foodbusinessnews.net/sosland/fbn/2019_11_12
http://digital.foodbusinessnews.net/sosland/fbn/2019_10_29
http://digital.foodbusinessnews.net/sosland/fbn/2019_10_15
http://digital.foodbusinessnews.net/sosland/fbn/2019_10_01
http://digital.foodbusinessnews.net/sosland/fbn/2019_09_17
http://digital.foodbusinessnews.net/sosland/fbn/2019_09_03
http://digital.foodbusinessnews.net/sosland/fbn/2019_08_20
http://digital.foodbusinessnews.net/sosland/fbn/2019_08_06
http://digital.foodbusinessnews.net/sosland/fbn/2019_07_23
http://digital.foodbusinessnews.net/sosland/fbn/2019_07_09
http://digital.foodbusinessnews.net/sosland/fbn/2019_06_25
http://digital.foodbusinessnews.net/sosland/fbn/2019_06_11
http://digital.foodbusinessnews.net/sosland/fbn/2019_05_28
http://digital.foodbusinessnews.net/sosland/fbn/2019_05_14
http://digital.foodbusinessnews.net/sosland/fbn/2019_04_30
http://digital.foodbusinessnews.net/sosland/fbn/2019_04_16
http://digital.foodbusinessnews.net/sosland/fbn/2019_04_02
http://digital.foodbusinessnews.net/sosland/fbn/2019_03_19
http://digital.foodbusinessnews.net/sosland/fbn/2019_03_05
http://digital.foodbusinessnews.net/sosland/fbn/2019_02_19
http://digital.foodbusinessnews.net/sosland/fbn/2019_02_05
http://digital.foodbusinessnews.net/sosland/fbn/2019_01_22
http://digital.foodbusinessnews.net/sosland/fbn/2019_1_8
http://digital.foodbusinessnews.net/sosland/fbn/2018_12_25
http://digital.foodbusinessnews.net/sosland/fbn/2018_12_11
http://digital.foodbusinessnews.net/sosland/fbn/2018_11_27
http://digital.foodbusinessnews.net/sosland/fbn/2018_11_13
http://digital.foodbusinessnews.net/sosland/fbn/2018_10_30
http://digital.foodbusinessnews.net/sosland/fbn/2018_10_16
http://digital.foodbusinessnews.net/sosland/fbn/2018_10_02
http://digital.foodbusinessnews.net/sosland/fbn/2018_09_18
http://digital.foodbusinessnews.net/sosland/fbn/2018_09_04
http://digital.foodbusinessnews.net/sosland/fbn/2018_08_21
http://digital.foodbusinessnews.net/sosland/fbn/2018_08_07
http://digital.foodbusinessnews.net/sosland/fbn/2018_07_24
http://digital.foodbusinessnews.net/sosland/fbn/2018_07_10
http://digital.foodbusinessnews.net/sosland/fbn/2018_06_26
http://digital.foodbusinessnews.net/sosland/fbn/2018_06_12
http://digital.foodbusinessnews.net/sosland/fbn/2018_05_29
http://digital.foodbusinessnews.net/sosland/fbn/2018_05_15
http://digital.foodbusinessnews.net/sosland/fbn/2018_05_01
http://digital.foodbusinessnews.net/sosland/fbn/2018_04_17
http://digital.foodbusinessnews.net/sosland/fbn/fbn_2018_04_03
http://digital.foodbusinessnews.net/sosland/fbn/2018_03_20
https://www.nxtbook.com/sosland/fbn/2018_03_06
https://www.nxtbook.com/sosland/fbn/2018_02_20
https://www.nxtbook.com/sosland/fbn/2018_02_06
https://www.nxtbook.com/sosland/fbn/2018_01_23
https://www.nxtbook.com/sosland/fbn/2018_01_09
https://www.nxtbook.com/sosland/fbn/2017_12_26
https://www.nxtbook.com/sosland/fbn/2017_12_12
https://www.nxtbook.com/sosland/fbn/2017_11_28
https://www.nxtbook.com/sosland/fbn/2017_11_14
https://www.nxtbook.com/sosland/fbn/2017_10_31
https://www.nxtbook.com/sosland/fbn/2017_10_17
https://www.nxtbook.com/sosland/fbn/2017_10_03
https://www.nxtbook.com/sosland/fbn/2017_09_19
https://www.nxtbook.com/sosland/fbn/2017_09_05
https://www.nxtbook.com/sosland/fbn/2017_08_22
https://www.nxtbook.com/sosland/fbn/2017_08_08
https://www.nxtbook.com/sosland/fbn/2017_07_25
https://www.nxtbook.com/sosland/fbn/2017_07_11
https://www.nxtbook.com/sosland/fbn/2017_06_27
https://www.nxtbook.com/sosland/fbn/2017_06_13
https://www.nxtbook.com/sosland/fbn/2017_05_30
https://www.nxtbook.com/sosland/fbn/2017_05_16
https://www.nxtbook.com/sosland/fbn/2017_05_02
https://www.nxtbook.com/sosland/fbn/2017_04_18
https://www.nxtbook.com/sosland/fbn/2017_04_04
https://www.nxtbook.com/sosland/fbn/2017_03_21
https://www.nxtbook.com/sosland/fbn/2017_03_07
https://www.nxtbook.com/sosland/fbn/2017_02_21
https://www.nxtbook.com/sosland/fbn/2017_02_07
https://www.nxtbook.com/sosland/fbn/2017_01_24
https://www.nxtbook.com/sosland/fbn/2017_01_10
https://www.nxtbook.com/sosland/fbn/2016_12_27
https://www.nxtbook.com/sosland/fbn/2016_12_13
https://www.nxtbook.com/sosland/fbn/2016_11_29
https://www.nxtbook.com/sosland/fbn/2016_11_15
https://www.nxtbook.com/sosland/fbn/2016_11_01
https://www.nxtbook.com/sosland/fbn/2016_10_18
https://www.nxtbook.com/sosland/fbn/2016_10_04
https://www.nxtbook.com/sosland/fbn/2016_09_20
https://www.nxtbook.com/sosland/fbn/2016_09_06
https://www.nxtbook.com/sosland/fbn/2016_08_23
https://www.nxtbook.com/sosland/fbn/2016_08_09
https://www.nxtbook.com/sosland/fbn/2016_07_26
https://www.nxtbook.com/sosland/fbn/2016_07_12
https://www.nxtbook.com/sosland/fbn/2016_06_28
https://www.nxtbook.com/sosland/fbn/2016_06_14
https://www.nxtbook.com/sosland/fbn/2016_05_31
https://www.nxtbook.com/sosland/fbn/2016_05_17
https://www.nxtbook.com/sosland/fbn/2016_05_03
https://www.nxtbook.com/sosland/fbn/2016_04_19
https://www.nxtbook.com/sosland/fbn/2016_04_05
https://www.nxtbook.com/sosland/fbn/2016_03_22
https://www.nxtbook.com/sosland/fbn/2016_03_08
https://www.nxtbook.com/sosland/fbn/2016_02_23
https://www.nxtbook.com/sosland/fbn/2016_02_09
https://www.nxtbook.com/sosland/fbn/2016_01_26
https://www.nxtbook.com/sosland/fbn/2016_01_12
https://www.nxtbook.com/sosland/fbn/2015_12_29
https://www.nxtbook.com/sosland/fbn/2015_12_15
https://www.nxtbook.com/sosland/fbn/2015_12_01
https://www.nxtbook.com/sosland/fbn/2015_11_17
https://www.nxtbook.com/sosland/fbn/2015_11_03
https://www.nxtbook.com/sosland/fbn/2015_10_20
https://www.nxtbook.com/sosland/fbn/2015_10_06
https://www.nxtbook.com/sosland/fbn/2015_09_22
http://digital.foodbusinessnews.net/sosland/fbn/09_08_2015
https://www.nxtbook.com/sosland/fbn/2015_08_25
https://www.nxtbook.com/sosland/fbn/2015_08_11
https://www.nxtbook.com/sosland/fbn/2015_07_28
https://www.nxtbook.com/sosland/fbn/2015_07_14
https://www.nxtbook.com/sosland/fbn/2015_06_30
https://www.nxtbook.com/sosland/fbn/2015_06_16
https://www.nxtbook.com/sosland/fbn/2015_06_02
https://www.nxtbook.com/sosland/fbn/2015_05_19
https://www.nxtbook.com/sosland/fbn/2015_05_05
https://www.nxtbook.com/sosland/fbn/2015_04_21
https://www.nxtbook.com/sosland/fbn/2015_04_07
https://www.nxtbook.com/sosland/fbn/2015_03_24
https://www.nxtbook.com/sosland/fbn/2015_03_10
https://www.nxtbook.com/sosland/fbn/fbn/2015_02_24
https://www.nxtbook.com/sosland/fbn/2015_02_10
https://www.nxtbook.com/sosland/fbn/2015_01_27
https://www.nxtbook.com/sosland/fbn/2015_01_13
https://www.nxtbook.com/sosland/fbn/2014_12_30
https://www.nxtbook.com/sosland/fbn/2014_12_16
https://www.nxtbook.com/sosland/fbn/2014_12_02
https://www.nxtbook.com/sosland/fbn/2014_11_18
https://www.nxtbook.com/sosland/fbn/2014_11_04
https://www.nxtbook.com/sosland/fbn/2014_10_21
https://www.nxtbook.com/sosland/fbn/2014_10_07
https://www.nxtbook.com/sosland/fbn/2014_09_23
https://www.nxtbook.com/sosland/fbn/2014_09_09
https://www.nxtbook.com/sosland/fbn/2014_08_26
https://www.nxtbook.com/sosland/fbn/2014_08_12
https://www.nxtbook.com/sosland/fbn/2014_07_29
https://www.nxtbook.com/sosland/fbn/2014_07_15
https://www.nxtbook.com/sosland/fbn/2014_07_01
https://www.nxtbook.com/sosland/fbn/2014_06_17
https://www.nxtbook.com/sosland/fbn/2014_06_03
https://www.nxtbook.com/sosland/fbn/2014_05_20
https://www.nxtbook.com/sosland/fbn/2014_05_06
https://www.nxtbook.com/sosland/fbn/2014_04_22
https://www.nxtbook.com/sosland/fbn/2014_04_08
https://www.nxtbook.com/sosland/fbn/2014_03_25
https://www.nxtbook.com/sosland/fbn/2014_03_11
https://www.nxtbook.com/sosland/fbn/2014_02_25
https://www.nxtbook.com/sosland/fbn/2014_02_11
https://www.nxtbook.com/sosland/fbn/2014_01_28
https://www.nxtbook.com/sosland/fbn/2014_01_14
https://www.nxtbook.com/sosland/fbn/2013_12_31
https://www.nxtbook.com/sosland/fbn/2013_12_17
https://www.nxtbook.com/sosland/fbn/2013_12_03
http://digital.foodbusinessnews.net/sosland/fbn/2013_11_19
http://digital.foodbusinessnews.net/sosland/fbn/2013_11_05
http://digital.foodbusinessnews.net/sosland/fbn/2013_10_22
http://digital.foodbusinessnews.net/sosland/fbn/2013_10_08
http://digital.foodbusinessnews.net/sosland/fbn/2013_09_24
http://digital.foodbusinessnews.net/sosland/fbn/2013_09_10
http://digital.foodbusinessnews.net/sosland/fbn/2013_08_27
http://digital.foodbusinessnews.net/sosland/fbn/2013_08_13
http://digital.foodbusinessnews.net/sosland/fbn/2013_07_30
https://www.nxtbook.com/sosland/fbn/2013_07_16
https://www.nxtbook.com/sosland/fbn/2013_07_02
https://www.nxtbook.com/sosland/fbn/2013_06_18
https://www.nxtbook.com/sosland/fbn/2013_06_04
https://www.nxtbook.com/sosland/fbn/2013_05_21
https://www.nxtbook.com/sosland/fbn/2013_05_07
https://www.nxtbook.com/sosland/fbn/2013_04_23
https://www.nxtbook.com/sosland/fbn/2013_04_09
https://www.nxtbook.com/sosland/fbn/2013_03_26
https://www.nxtbook.com/sosland/fbn/2013_03_12
https://www.nxtbook.com/sosland/fbn/2013_02_26
https://www.nxtbook.com/sosland/fbn/2013_02_12
https://www.nxtbook.com/sosland/fbn/2013_01_29
https://www.nxtbook.com/sosland/fbn/2013_01_15
https://www.nxtbook.com/sosland/fbn/2013_01_01
https://www.nxtbook.com/sosland/fbn/2012_12_18
https://www.nxtbook.com/sosland/fbn/2012_12_04
https://www.nxtbook.com/sosland/fbn/2012_11_20
https://www.nxtbook.com/sosland/fbn/2012_11_06
https://www.nxtbook.com/sosland/fbn/2012_10_23
https://www.nxtbook.com/sosland/fbn/2012_10_09
https://www.nxtbook.com/sosland/fbn/2012_09_25
https://www.nxtbook.com/sosland/fbn/2012_09_11
https://www.nxtbook.com/sosland/fbn/2012_08_28
https://www.nxtbook.com/sosland/fbn/2012_08_14
https://www.nxtbook.com/sosland/fbn/2012_07_31
https://www.nxtbook.com/sosland/fbn/2012_07_17
https://www.nxtbook.com/sosland/fbn/2012_07_03
https://www.nxtbook.com/sosland/fbn/2012_06_19
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