US Plains HRW Wheat-Basis bids flat in muted trade
CHICAGO, July 22 (Reuters) - Spot basis bids for U.S. Plains hard red winter wheat were steady in the U.S. Plains on Tuesday amid quiet trade, dealers said.
Chicago Board of Trade wheat futures ticked higher despite expectations of plentiful global supplies.
Russia, the world's biggest wheat exporter, has trimmed its forecasts for the 2025 wheat harvest and for wheat exports in the 2025/26 marketing season, Russian Agriculture Minister Oksana Lut told a government meeting on Tuesday.
The U.S. winter wheat harvest is speeding along. The U.S. Department of Agriculture reported 73% of the crop has been harvested, compared to 63% in the previous week.
K.C. September hard red winter wheat futures KWU25 were last up 7 cents to $5.32-3/4 per bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -40 | + | U | -40 | + | U | $4.93 |
Newton | -65 | + | U | -65 | + | U | $4.68 |
Goodland | -75 | + | U | -75 | + | U | $4.58 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 100 | + | U | 100 | + | U | $6.33 |
Galveston** | 100 | + | U | 100 | + | U | $6.33 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $5.13 |
Catoosa | -25 | + | U | -25 | + | U | $5.08 |
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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