Last update  09/03/2010 03:23 PM                                           

Prices are subject to change without notice.

Premium and Discounts for DNS and HRW

DNS base protein is 14%

Scale plus 10 cents 1/4 up to a maximum of 15.5%. Minus 25 cents 1/4 down. No maximum.

HRW base protein is 11.5%

Scale plus 10 cents 1/2 up to a maximum of 13%. Minus 25 cents 1/2 down. No maximum.

Current Market Information

From the Scoular Company 

PM

Corn and wheat futures lead the charge and finished the week on a high note. The US corn crop could be shrinking and the demand for US wheat is on the up swing. Two strong drivers working in tandom to chase pre-holiday weekend values to the bullish side of the street. SWW tracks also felt 'the force' and stood taller at the close.

AM

    Flour millers in Asia have snapped up around 180,000 tonnes of Australian and U.S. wheat cargoes in the past 10 days as buyers returned to the market after a month's hiatus, traders said on Friday.

    "Buyers are jittery as prices are going up," said a trading manager with an international company that sells wheat into Asia.

    "You can't really say how much the market will go up because of Russia's extension of the ban, but mills are actively looking to book cargoes."

    Benchmark Chicago Board of Trade wheat futures <Wc1> rose 0.7 percent on Friday, extending gains on expectations of higher demand for U.S. wheat cargoes due to lack of supplies from the drought-stricken Black Sea region.

    Russia on Thursday signaled that it would extend the ban until late 2011 after the worst drought in years cut this year's grain harvest by around a third.

    Flour mills in Indonesia, one of Asia's top wheat importers, this week bought 25,000 tonnes of Australian standard wheat at

around $330 a tonne, including cost and freight, after last week taking 60,000 tonnes of Australian prime wheat at $303 a tonne, free on board.

    Taiwan awarded a tender this week to import 48,000 tonnes of U.S. wheat for November arrival, while Thailand took around 50,000 tonnes for shipment in October.

    Taiwan bought U.S. dark northern spring wheat at around $390 a tonne FoB and paid $285 a tonne for soft white wheat.

    Mills in Malaysia and Vietnam are also in talks with international traders to sign deals to import wheat for the October-December quarter.

    "We were expecting this to happen as some mills were running on thin stocks," said another Singapore-based trader. "They have been active since last week and we expect more deals to be signed in the coming days."

    Australian exporters said they expect strong demand well into 2011, given that the Russian ban will remain in force next year.

    "With Russia's ban it may mean exports from Australia will be more evenly spread throughout the year as there will be no harvest pressure coming out of the northern hemisphere," said Tom Puddy, wheat marketing manager at Western Australian-based CBH Group, one of the country's largest grain exporters.

    "There won't be any pressure to get the grain out and capitalize on the higher prices before the northern hemisphere harvest."

    U.S. wheat futures started climbing in July and touched a two-year high in August as a severe drought in the Black Sea region, too much rain in Canada and a mix of unfavorable weather in European Union countries forced downgrades of 2010 wheat crop forecasts.

    Still, there are sufficient supplies of wheat to meet world demand on prospects of bumper production in the United States and Australia, the world's biggest and fourth largest exporters respectively.

    The UN's Food and Agriculture Organization (FAO) has cut its forecast for world wheat stocks ending in 2011 to 181 million tonnes from a previous estimate of 188 million tonnes.

    U.S. wheat prices have risen more than 60 percent from a June low of $4.25-   a bushel, although the market is down 20 percent from the August peak of $8.41 a bushel.

    The run up in grain markets has stoked fears of food inflation but wheat prices are still around half of a 2008 peak, when rising prices led to street protests.

    Global food prices rose in August on the back of surging wheat and higher sugar and oilseeds prices, with the FAO Food Price Index climbing for the third month in a row and reaching a 2-year high.