US Plains HRW Wheat-Basis bids steady as futures tick up
CHICAGO, July 9 (Reuters) - Spot basis bids for hard red winter wheat were flat in a spot check of locations on the U.S. Plains on Wednesday as futures firmed slightly.
The U.S. Department of Agriculture on Thursday is expected to report weekly U.S. wheat export sales of 200,000 to 600,000 metric tons for 2025-26, analysts said in a Reuters poll.
The USDA on Friday is expected to trim its estimate for all wheat production, analysts said in a separate poll.
Protein premiums for railcar wheat shipped to and through Kansas City were unchanged for wheat with all grades of protein. KCBT/SCA
K.C. September hard red winter wheat KWU25 rose 1-1/2 cents to $5.24 a bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -40 | + | U | -40 | + | U | $4.84 |
Newton | -65 | + | U | -65 | + | U | $4.59 |
Goodland | -75 | + | U | -75 | + | U | $4.49 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 100 | + | U | 100 | + | U | $6.24 |
Galveston** | 100 | + | U | 100 | + | U | $6.24 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $5.04 |
Catoosa | -15 | + | U | -15 | + | U | $5.09 |
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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