US Plains HRW Wheat-Basis flat as futures fall
CHICAGO, Aug 14 (Reuters) - Spot basis bids for hard red winter wheat were unchanged in a spot check of locations in the southern U.S. Plains on Thursday as futures eased for a third straight session.
Protein premiums for railcar wheat shipped to and through Kansas City fell 10 cents for wheat with 12.8% protein content. It was unchanged for all other grades of wheat. KCBT/SCA
Large global supplies have pressured futures this week.
Net export sales of U.S. wheat totaled 722,800 metric tons in the week ended August 7, the USDA said on Thursday. The sales were near the high end of a range of trade estimates.
K.C. September hard red winter wheat KWU25 settled 2-1/2 cents lower at $5.04-1/4 a bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -40 | + | U | -40 | + | U | $4.64 |
Newton | -65 | + | U | -65 | + | U | $4.39 |
Goodland | -75 | + | U | -75 | + | U | $4.29 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 100 | + | U | 100 | + | U | $6.04 |
Galveston** | 100 | + | U | 100 | + | U | $6.04 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $4.84 |
Catoosa | -10 | + | U | -10 | + | 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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