US Plains HRW Wheat-Basis flat as futures fall to fresh contract lows
CHICAGO, Oct 14 (Reuters) - Basis bids for hard red winter wheat were unchanged at elevators in the southern U.S. Plains on Tuesday as futures dipped down to new contract lows.
Rains were forecast in parts of the U.S. Southern Plains in the next one to five days, according to Commodity Weather Group.
K.C. hard red wheat futures and CBOT soft wheat futures fell to fresh contract lows on Tuesday, with large global supplies adding pressure. GRA/
K.C. December hard red winter wheat KWZ25 futures settled down 7-1/4 cents at $4.88-1/2 per bushel after hitting a contract low at $4.77-1/4.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -50 | + | Z | -50 | + | Z | $4.39 |
Newton | -75 | + | Z | -75 | + | Z | $4.14 |
Goodland | -88 | + | Z | -88 | + | Z | $4.01 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +100 | + | Z | +100 | + | Z | $5.89 |
Galveston** | +100 | + | Z | +100 | + | Z | $5.89 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -30 | + | Z | -30 | + | Z | $4.59 |
Catoosa | -20 | + | Z | -20 | + | Z | $4.69 |
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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