US Plains HRW Wheat-Basis bids flat to up as harvest progresses
CHICAGO, June 24 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were steady to higher at elevators and mills in a spot check of the southern U.S. Plains on Tuesday.
Dry weather in the central and southern Plains helped advance winter wheat harvesting over the previous week.
Protein premiums for railcar wheat shipped to and through Kansas City gained 10 cents for "ordinary" wheat, 19 cents for wheat with 11% to 11.4% protein, 23 cents for wheat with 11.6% protein and 13 cents for wheat with 11.8% protein. KCBT/SCA
Chicago Board of Trade September K.C. HRW wheat KWU25 futures settled 15-1/4 cents lower at $5.49-3/4 a bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -25 | + | N | -25 | + | N | $5.25 |
Newton | -50 | + | N | -50 | + | N | $5.00 |
Goodland | -75 | + | N | -82 | + | N | $4.75 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +105 | + | N | +105 | + | N | $6.55 |
Galveston** | +100 | + | N | +100 | + | N | $6.50 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -10 | + | N | -10 | + | N | $5.40 |
Catoosa | +10 | + | N | +10 | + | N | $5.60 |
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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