US Plains HRW Wheat-Basis bids steady to lower
CHICAGO, Oct 22 (Reuters) - Basis bids for hard red winter (HRW) wheat were flat to down at elevators in the southern U.S. Plains on Wednesday with light trade.
Dealers in some locations said they saw some minimal farmer selling.
Late-week rain is expected to aid wheat in the central & southeast U.S. Plains, but the southwest third of the winter wheat belt is still too dry, according to forecaster Commodity Weather Group.
K.C. December hard red winter wheat KWZ25 ended up 3-1/2 cents at $4.88-1/2.
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 | -35 | + | Z | -30 | + | Z | $4.54 |
Catoosa | -15 | + | Z | -15 | + | Z | $4.74 |
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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