US Plains HRW Wheat-Cash basis flat
CHICAGO, Sept 19 (Reuters) - Basis bids for hard red winter wheat were steady in a spot check of grain elevators in the southern U.S. Plains on Friday as futures dipped down.
A rebound in the dollar =USD since a U.S. Federal Reserve interest rate cut on Wednesday weighed on dollar-priced commodities including wheat. FRX/
Rains have improved soil moisture for the hard red winter wheat crop in the central and southern Plains this week, according to forecaster Vaisala.
K.C. December hard red winter wheat KWZ25 ended Friday down 2-3/4 cents at $5.07-1/4 a bushel
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -60 | + | Z | -60 | + | Z | $4.47 |
Newton | -85 | + | Z | -85 | + | Z | $4.22 |
Goodland | UNQ | + | UNQ | + | UNQ | ||
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +85 | + | Z | +85 | + | Z | $5.92 |
Galveston** | +100 | + | Z | +100 | + | Z | $6.07 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -30 | + | Z | -30 | + | Z | $4.77 |
Catoosa | -30 | + | Z | -30 | + | Z | $4.77 |
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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