U.S. Plains HRW Wheat-Basis steady as futures sag
CHICAGO, Aug 26 (Reuters) - Spot basis bids for hard red winter wheat were flat at grain elevators in the southern U.S. Plains on Tuesday as K.C. HRW wheat futures fell.
K.C. December hard red winter wheat KWZ25 fell 3 cents to $5.17-3/4 a bushel.
Some locations have begun rolling their basis to the December contract.
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 | -10 | + | U | -10 | + | U | $5.08 |
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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