US Plains HRW Wheat-Cash basis steady as futures weakened
CHICAGO, Sept 18 (Reuters) - Basis bids for hard red winter (HRW) wheat were steady in a spot check of grain elevators in the southern U.S. Plains on Thursday as futures eased.
Chicago Board of Trade wheat futures closed lower on spillover weakness from falling corn futures.
Forecaster Vaisala said rain over the past week has favored the northern and western portions of the hard red winter wheat belt, maintaining favorable conditions for wheat germination.
K.C. December hard red winter wheat KWZ25 ended 6-1/4 cents lower at $5.10 per bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -60 | + | Z | -60 | + | Z | $4.50 |
Newton | -85 | + | Z | -85 | + | Z | $4.25 |
Goodland | UNQ | + | UNQ | + | UNQ | ||
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +85 | + | Z | +85 | + | Z | $5.95 |
Galveston | +100 | + | Z | +100 | + | Z | $6.10 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -30 | + | Z | -30 | + | Z | $4.80 |
Catoosa | -30 | + | Z | -25 | + | Z | $4.80 |
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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