US Plains HRW Wheat-Basis bids flat as futures falter
CHICAGO, Sept 23 (Reuters) - Basis bids for hard red winter wheat were steady in the U.S. Plains on Tuesday as futures fell and farmers began planting the U.S. winter wheat crop.
Farmers were planting the U.S. winter wheat crop that will be harvested next year.
Planting was 20% complete as of Sunday, behind the five-year average of 23%, according to U.S. Department of Agriculture data issued on Monday.
K.C. December hard red winter wheat KWZ25 ended 9-1/4 cents higher at $5.11-1/2 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -60 | + | U | -60 | + | U | $4.52 |
Newton | -85 | + | U | -85 | + | U | $4.27 |
Goodland | -75 | + | U | UNQ | + | U | $4.37 |
TEXAS | |||||||
Gulf track* | 85 | + | U | 85 | + | U | $5.97 |
Galveston** | 100 | + | U | 100 | + | U | $6.12 |
OKLAHOMA | |||||||
Enid | -30 | + | U | -30 | + | U | $4.82 |
Catoosa | -30 | + | U | -30 | + | U | $4.82 |
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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