US Plains HRW Wheat-Basis steady as futures rise
CHICAGO, July 31 (Reuters) - Spot basis bids for hard red winter wheat were flat in a spot check of locations in the southern U.S. Plains on Thursday as futures ticked up.
K.C. wheat futures rose as the U.S. Department of Agriculture reported private sales of 100,000 metric tons of U.S. hard red winter wheat corn to Nigeria for shipment in the 2025/26 marketing year.
K.C. September HRW wheat futures KWU25 ended up 4-1/4 cents at $5.26-1/4 a bushel.
Export sales of U.S. wheat in the week ended July 24 totaled 630,200 metric tons, toward the high end of trade expectations for 300,000-700,000 tons.
Protein premiums for railcar wheat shipped to and through Kansas City fell 5 cents for "ordinary" wheat. It gained 10 cents for wheat with 12% to 12.6% protein. It was unchanged for all other grades of wheat. KCBT/SCA
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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