US Plains HRW Wheat-Basis bids unchanged as harvest gathers pace
CHICAGO, June 17 (Reuters) - Spot basis bids for hard red winter wheat were flat in the U.S. Plains on Tuesday as farmers focused on the ongoing wheat harvest as well as harvest preparations, dealers said.
The U.S. Department of Agriculture reported on Monday that the U.S. winter wheat harvest was 10% complete, lagging the five-year average of 16%.
The USDA's winter wheat ratings declined, with 52% of the crop rated good to excellent, down from 54% last week. Analysts had expected no change.
Chicago Board of Trade July K.C. HRW wheat KWN25 futures ended up 11-3/4 cents at $5.47-3/4 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -25 | + | N | -25 | + | N | $5.38 |
Newton | -50 | + | N | -50 | + | N | $5.13 |
Goodland | -82 | + | N | -82 | + | N | $4.81 |
TEXAS | |||||||
Gulf track* | 105 | + | N | 105 | + | N | $6.68 |
Galveston** | 100 | + | N | 100 | + | N | $6.63 |
OKLAHOMA | |||||||
Enid | -10 | + | N | -10 | + | N | $5.53 |
Catoosa | 10 | + | N | 10 | + | N | $5.73 |
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
Related Articles
Zeta Global (ZETA): Solid Data Moat Can Drive Value Up
TradingKey - Simply speaking, Zeta is a marketing tech company that leverages its high-quality, proprietary data and AI tools to automate a wide range of marketing tasks, helping marketers and brands conduct campaigns on various channels. The company’s solid moat is based on its high-quality...-8fe429c75f0a48aa94f43d6c5c639094.jpg)
Fed Rate Cuts: Will the Russell 2000 Outperform the S&P 500?
TradingKey - On 17 September, the Federal Reserve cut interest rates by 25 basis points, marking the official restart of the rate-cutting cycle. In theory, small-cap stocks, compared to large-cap stocks, benefit more from Fed rate cuts. This is because they are more reliant on external financing...
Uranium Energy Corp. (UEC) Earnings Preview: Is there any Uranium out there?
TradingKey - Uranium Energy Corp (UEC) will report fourth-quarter and full-year earnings on the 24th of September, before the opening bell. The company’s stock price has been performing very strongly, being up 61% on a year-to-date basis - a rally closely related to uranium as a commodity._croped_889x500 (1)-666c3deec8f74a1d91bccfc0edb42909.jpg)
AI’s Next Battlefield: Broadcom’s TPU-Backed ASICs Challenge Nvidia’s GPU Dominance
TradingKey - Broadcom (NASDAQ: AVGO) recently secured a landmark $10 billion deal with OpenAI to supply custom AI accelerators, solidifying its leadership in the booming AI semiconductor market. Alongside its longstanding Google TPU partnership, this positions Broadcom to capture significant growth.jpg)
SoFi's Interest Rate Cut Benefit: Surging Loan Demand and Accelerated FSPL Strategy
TradingKey - I hold a cautiously optimistic rating on SoFi. Its unique business model drives strong performance. The banking license provides low-cost funding. Rapid growth in light-asset operations adds momentum. SoFi shows long-term value potential.
