US Plains HRW Wheat-Spot basis bids steady to up with limited farmer selling
CHICAGO, May 14 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were flat to higher in a spot check of facilities around the southern U.S. Plains on Wednesday as dealers tried to entice farmers to sell.
CBOT July K.C. HRW wheat KWN25 futures closed higher, settling up 11-1/4 cents at $5.23 a bushel.
Dealers said the trade continued to be quiet.
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 | $4.87 |
Newton | -65 | + | N | -65 | + | N | $4.58 |
Goodland | -82 | + | N | -82 | + | N | $4.41 |
TEXAS | |||||||
Gulf track* | 100 | + | N | 100 | + | N | $6.23 |
Galveston** | 100 | + | N | 100 | + | N | $6.23 |
OKLAHOMA | |||||||
Enid | -25 | + | N | -35 | + | N | $4.98 |
Catoosa | 0 | + | N | 0 | + | N | $5.23 |
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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