US Plains HRW Wheat-Basis steady as harvest nears end
CHICAGO, July 28 (Reuters) - Spot basis bids for hard red winter wheat were steady in a spot check of locations in the southern U.S. Plains on Monday, as the harvest neared completion and farmers had little left to sell.
The U.S. Department of Agriculture said in a weekly crop report on Monday that winter wheat harvesting was 80% complete, compared to 73% a week ago and analysts' estimates of 82%.
Protein premiums for railcar wheat shipped to and through Kansas City fell by 5 cents a bushel for wheat with 12% through 12.2% protein. Premiums for other grades were unchanged. KCBT/SCA
K.C. September HRW wheat futures KWU25 ended down 1/2 cent at $5.26 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -40 | + | U | -40 | + | U | $4.86 |
Newton | -65 | + | U | -65 | + | U | $4.61 |
Goodland | -75 | + | U | -75 | + | U | $4.51 |
TEXAS | |||||||
Gulf track* | 100 | + | U | 100 | + | U | $6.26 |
Galveston** | 100 | + | U | 100 | + | U | $6.26 |
OKLAHOMA | |||||||
Enid | -20 | + | U | -20 | + | U | $5.06 |
Catoosa | -25 | + | U | -25 | + | U | $5.01 |
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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