US Plains HRW Wheat-Basis bids flat as futures weaken
CHICAGO, Dec 24 (Reuters) - Spot basis bids for hard red winter wheat remained flat Tuesday in the U.S. southern Plains, with little trade prior to the Christmas holiday.
* K.C. HRW March wheat futures KWH25 were down 7-1/4 cents at $5.43-3/4 a bushel at 11:10 p.m. CST (1710 GMT).
* Dealers said trade was quiet and farmer selling is expected to remain modest into the new year.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -21 | + | H | -21 | + | H | $5.23 |
Newton | -50 | + | H | -50 | + | H | $4.94 |
Goodland | -62 | + | N | -62 | + | N | $4.82 |
TEXAS | |||||||
Gulf track* | +120 | + | H | +120 | + | H | $6.64 |
Galveston** | +100 | + | H | +100 | + | H | $6.44 |
OKLAHOMA | |||||||
Enid | -25 | + | H | -25 | + | H | $5.19 |
Catoosa | +10 | + | H | +10 | + | H | $5.54 |
NOTES:
H = March, K = May, N = July, U = September
Z = December; UNQ = Unquoted bids
0 = Sp Option price; NC = No comparison
* = No. 1 12% hard winter wheat, rail bids
** = Ordinary protein, rail bids
LINKS:
* K.C. HRW wheat protein scales KCBT/SCA
* U.S. weekly wheat crop progress US/WHE
* U.S. forward basis WHEAT/BASIS
* U.S. Midwest cash grain PM GRA/PM
* U.S. CIF Gulf Grain GRA/C
* U.S. FOB Gulf Grain GRA/F
(Reporting by Renee Hickman; Editing by Aurora Ellis)
((renee.hickman@thomsonreuters.com))
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