US Plains HRW Wheat-Basis steady as futures fall
CHICAGO, Aug 13 (Reuters) - Spot basis bids for hard red winter wheat were flat in a spot check of locations in the southern U.S. Plains on Wednesday as futures eased.
Protein premiums for railcar wheat shipped to and through Kansas City were unchanged for all grades of wheat. KCBT/SCA
Large global supplies have recently pressured futures.
K.C. September hard red winter wheat KWU25 settled 4 cents lower at $5.06-3/4 a bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -40 | + | U | -40 | + | U | $4.67 |
Newton | -65 | + | U | -65 | + | U | $4.42 |
Goodland | -75 | + | U | -75 | + | U | $4.32 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 100 | + | U | 100 | + | U | $6.07 |
Galveston** | 100 | + | U | 100 | + | U | $6.07 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $4.87 |
Catoosa | -10 | + | U | -10 | + | U | $4.97 |
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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