Wheat Middlings Rally Broadens to Four Markets, Kansas at $272/Ton

Wheat middlings posted broad weekly gains across four USDA-reported markets. Minnesota led with a +23% week-over-week gain to $167/ton FOB plant, while Kansas hit $272/ton FOB plant, up 15% on the week and 104% above its three-year median per USDA. Kansas City added 14% to $202/ton FOB plant and St. Louis gained 11% to $200/ton FOB plant, the former 50% and the latter 38% above their respective four-year medians per USDA.

• Protein board (dry-matter basis): Sunflower meal at $0.275/lb crude protein (69% of soybean meal, the lowest reading in the recent run) and feather meal at $0.281/lb (71% of soybean meal), per USDA feedstuffs prices and book-value nutrient coefficients.
• Energy board (dry-matter basis): Hominy feed leads at $0.076/lb TDN (65% of corn), wheat millrun at $0.113/lb (98% of corn) and soybean hulls at $0.114/lb (98% of corn), per USDA and book-value TDN coefficients.
• DDGS, ~$188/ton: Energy at 103% of corn and protein at 89% of soybean meal on a cost-per-unit-of-nutrient, dry-matter basis per USDA.
• Blood meal: Central US up 7% week over week to $1,573/ton FOB plant (54% above its four-year median) and Minnesota flat at $1,483/ton FOB plant (53% above its four-year median), both per USDA.
• Benchmarks: Corn at ~$179/ton (plant input cost, ~$5.01/bu) and soybean meal at ~$379/ton FOB, both flat on the week per USDA. Corn is 12% above its four-year median.
• Safflower meal, California (San Joaquin Valley): $165/ton FOB plant, flat on the week and 37% below its four-year median per USDA. Priced but not scored on the nutrient leaderboard.

Forty-seven series, including specific alfalfa pellet and almond hull series, have not updated in over two weeks and should be treated as stale.