US Plains HRW Wheat-Cash basis steady to up
CHICAGO, Sept 15 (Reuters) - Basis bids for hard red winter (HRW) wheat were steady to higher in a spot check of grain elevators in the southern U.S. Plains on Monday.
The basis rose by 10 cents at a grain elevator in Enid, Oklahoma.
The September contract expired on Friday.
The U.S. Department of Agriculture in monthly supply/demand reports cut its forecast of 2025/26 U.S. wheat ending stocks more than most analysts expected, to 844 million bushels, from 869 million previously.
But the government raised its projections of global 2025/26 wheat production and ending stocks.
K.C. December hard red winter wheat futures KWZ25 settled down 1-3/4 cents at $5.13 per bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -60 | + | Z | -60 | + | Z | $4.53 |
Newton | -85 | + | Z | -85 | + | Z | $4.28 |
Goodland | UNQ | + | NC | -75 | + | U | UNQ |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +85 | + | Z | +85 | + | Z | $5.98 |
Galveston** | +100 | + | Z | +100 | + | Z | $6.13 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -20 | + | Z | -30 | + | Z | $4.93 |
Catoosa | -25 | + | Z | -25 | + | Z | $4.88 |
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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