US Plains HRW Wheat-Basis steady as futures tick up
CHICAGO, Aug 11 (Reuters) - Spot basis bids for hard red winter wheat were steady in a spot check of locations in the southern U.S. Plains on Monday as futures firmed slightly.
Wheat futures traded near flat, gaining some support from a rally in soybeans but pressured by large global supplies.GRA/
K.C. September hard red winter wheat KWU25 settled 3/4 cents higher at $5.19 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 | -5 | + | U | -25 | + | U | $5.14 |
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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