US Plains HRW Wheat-Basis steady to up as futures ease

ReutersFeb 10, 2025 6:33 PM

CHICAGO, Feb 10 (Reuters) - Basis bids for hard red winter wheat were steady to higher at locations in the U.S. Plains on Monday as futures fell.

The basis rose at a grain co-op in Goodland, Texas.

Snow forecast for the U.S. Plains in the coming weeks limited the risk of winterkill, according to Commodity Weather Group.

The U.S. Department of Agriculture is expected to raise U.S. wheat ending stocks in its upcoming monthly supply and demand report, due out Tuesday, according to a Reuters poll of analysts.

K.C. March hard red winter wheat KWH25 was down 6-3/4 cents at $5.97-1/2 per bushel near midday. WHE/C

Basis values are quoted against futures in cts/bu:

	Current			Previous			Cash
	basis			basis			price
KANSAS
Wichita	-21	+	H	-21	+	H	$5.77
Newton	-50	+	H	-50	+	H	$5.48
Goodland	-75	+	H	-80	+	H	$5.23

TEXAS
Gulf track*	105	+	H	105	+	H	$7.03
Galveston	100	+	H	100	+	H	$6.98

OKLAHOMA
Enid	-25	+	H	-25	+	H	$5.73
Catoosa	15	+	H	15	+	H	$6.13

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

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