US Plains HRW Wheat-Basis flat as harvest approaches completion
CHICAGO, July 29 (Reuters) - Spot basis bids for hard red winter wheat were unchanged in a spot check of locations in the southern U.S. Plains on Tuesday, with quiet trade as the harvest wraps up.
Dealers in multiple locations said there was little farmer selling on Tuesday.
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 were unchanged for all grades of wheat. KCBT/SCA
K.C. September HRW wheat futures KWU25 ended down 7-1/2 cents at $5.18-1/2 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -40 | + | U | -40 | + | U | $4.79 |
Newton | -65 | + | U | -65 | + | U | $4.54 |
Goodland | -75 | + | U | -75 | + | U | $4.44 |
TEXAS | |||||||
Gulf track* | 100 | + | U | 100 | + | U | $6.19 |
Galveston** | 100 | + | U | 100 | + | U | $6.19 |
OKLAHOMA | |||||||
Enid | -20 | + | U | -20 | + | U | $4.99 |
Catoosa | -25 | + | U | -25 | + | U | $4.94 |
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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