US Plains HRW Wheat-Spot basis bids flat as futures slump
CHICAGO, May 13 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were flat in a spot check of facilities around the southern U.S. Plains on Tuesday as futures hit contract lows.
CBOT July K.C. HRW wheat KWN25 futures closed up after falling for four sessions in a row, following a drop to contract lows.
CBOT July wheat KWN25 settled down 7-3/4 cents at $5.00-1/4 per bushel.
An annual wheat crop tour is surveying wheat fields in top-producing state Kansas this week.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -36 | + | N | -36 | + | N | $4.64 |
Newton | -65 | + | N | -65 | + | N | $4.35 |
Goodland | -82 | + | N | -82 | + | N | $4.18 |
TEXAS | |||||||
Gulf track* | 100 | + | N | 100 | + | N | $6.00 |
Galveston** | 100 | + | N | 100 | + | N | $6.00 |
OKLAHOMA | |||||||
Enid | -35 | + | N | -35 | + | N | $4.65 |
Catoosa | 0 | + | N | 0 | + | N | $5.00 |
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. FOB Gulf Grain GRA/F
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