US Plains HRW Wheat-Basis bids steady to down ahead of U.S. holiday weekend
CHICAGO, Aug 29 (Reuters) - Spot basis bids for hard red winter wheat were flat to lower in the U.S. Plains on Friday as some locations rolled their basis to the December contract.
Facilities in Wichita and Newton, Kansas rolled their basis to the December contract.
K.C. wheat futures ticked up as traders adjusted their positions at the end of the month and before a long weekend in the United States, where financial markets will be closed on Monday for the Labor Day holiday.
K.C. December hard red winter wheat KWZ25 ended 4 cents higher at $5.19-3/4 per bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -60 | + | Z | -40 | + | U | $4.60 |
Newton | -85 | + | Z | -65 | + | U | $4.35 |
Goodland | -75 | + | U | -75 | + | U | $4.45 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +85 | + | Z | +85 | + | Z | $6.05 |
Galveston** | +100 | + | U | +100 | + | U | $6.20 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | U | -20 | + | U | $5.00 |
Catoosa | -10 | + | U | -10 | + | U | $5.10 |
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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