US Plains HRW Wheat-Basis flat steady as futures sink
CHICAGO, Aug 8 (Reuters) - Spot basis bids for hard red winter wheat were unchanged in a spot check of locations in the southern U.S. Plains on Friday as futures fell.
Wheat futures were down on abundant global supplies, but received some support as low prices sparked export interest. GRA/
K.C. September hard red winter wheat KWU25 settled 3-1/4 cents lower at $5.18-1/4 a bushel.
Protein premiums for railcar wheat shipped to and through Kansas City gained 15 cents for wheat with 11% to 11.6% protein content, 5 cents for 12% to 12.6%, and 10 cents for 12.8%, 13% and 13.6%. 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 | $4.78 |
Newton | -65 | + | U | -65 | + | U | $4.53 |
Goodland | -75 | + | U | -75 | + | U | $4.43 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 100 | + | U | 100 | + | U | $6.18 |
Galveston** | 100 | + | U | 100 | + | U | $6.18 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $4.98 |
Catoosa | -5 | + | U | -25 | + | U | $5.13 |
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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