US Plains HRW Wheat-Basis bids mostly unchanged in slow post-harvest trading
CHICAGO, Aug 20 (Reuters) - Spot basis bids for hard red winter wheat were mostly steady around the southern U.S. Plains on Wednesday in slow trading since the harvest recently wrapped up as demand was light and futures held near unchanged, grain merchants said.
Farmer sales have remained slow since the harvest recently concluded as growers are waiting for higher prices before selling more of their crop.
The U.S. Department of Agriculture is scheduled to release its weekly export sales report on Thursday morning. Analysts surveyed by Reuters expect net wheat sales of 500,000 to 800,000 metric tons in the week ended August 14, compared with sales of 722,846 tons a week earlier.
K.C. September hard red winter wheat futures KWU25 fell to a fresh contract low of $4.96 a bushel on Wednesday, but last traded 1/2 cent higher at $5.00 a bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -40 | + | U | -40 | + | U | $4.60 |
Newton | -65 | + | U | -65 | + | U | $4.35 |
Goodland | -75 | + | U | -75 | + | U | $4.25 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +100 | + | U | +100 | + | U | $6.00 |
Galveston** | +100 | + | U | +100 | + | U | $6.00 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $4.80 |
Catoosa | -10 | + | U | -10 | + | U | $4.90 |
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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