US Plains HRW Wheat-Basis bids flat to higher with futures falling
CHICAGO, June 25 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were mostly steady at elevators and mills in a spot check of the southern U.S. Plains on Wednesday.
Dealers said there was limited farmer selling as futures eased.
Some locations began rolling on to the September contract.
Protein premiums for railcar wheat shipped to and through Kansas City gained 5 cents for "ordinary" wheat. They lost 4 cents for wheat with 11% to 11.4% protein, 8 cents for 11.6% to 11.8% protein, 14 cents for wheat with 12 to 12.4% protein, 99 cents for wheat with 12.6% protein, 14 cents for 12.8% protein and 15 cents for 13-14% protein. KCBT/SCA
Chicago Board of Trade September K.C. HRW wheat KWU25 futures settled 10-1/2 cents lower at $5.39-1/4 a bushel.
July K.C. HRW wheat ended down 10-1/2 cents at $5.24-1/4.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -25 | + | N | -25 | + | N | $4.99 |
Newton | -50 | + | N | -50 | + | N | $4.74 |
Goodland | -75 | + | N | -82 | + | N | $4.49 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +105 | + | N | +105 | + | N | $6.29 |
Galveston** | +100 | + | N | +100 | + | N | $6.24 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -10 | + | N | -10 | + | N | $5.14 |
Catoosa | 0 | + | U | +10 | + | N | $5.39 |
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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