US Plains HRW Wheat-Basis flat as futures fall
CHICAGO, Aug 1 (Reuters) - Spot basis bids for hard red winter wheat were steady in a spot check of locations in the southern U.S. Plains on Friday as futures eased.
K.C. wheat futures fell as winter wheat harvests progressed globally.
New U.S. tariffs on dozens of trading partners made traders nervous at a time when harvests in the Northern Hemisphere were boosting inventories.
K.C. September HRW wheat futures KWU25 ended down 7-1/2 cents at $5.18-3/4 a bushel.
Protein premiums for railcar wheat shipped to and through Kansas City were unchanged for all 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 | $4.79 |
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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