US Plains HRW Wheat-Basis steady to up as futures recover
CHICAGO, Aug 6 (Reuters) - Spot basis bids for hard red winter wheat were steady to higher in a spot check of locations in the southern U.S. Plains on Wednesday as futures edged up.
Farmer selling picked up in some locations with futures recovering from three sessions of falls, according to dealers.
K.C. September hard red winter wheat KWU25 fell to a new contract low of $5.03-1/4 before settling up 7 cents to $5.11-1/2 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 | $4.72 |
Newton | -65 | + | U | -65 | + | U | $4.47 |
Goodland | -75 | + | U | -75 | + | U | $4.37 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 100 | + | U | 100 | + | U | $6.12 |
Galveston** | 100 | + | U | 100 | + | U | $6.12 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $4.92 |
Catoosa | -5 | + | U | -25 | + | U | $5.07 |
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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