US Plains HRW Wheat-Basis bids tick lower as contract rolls
CHICAGO, Nov 28 (Reuters) - Basis bids for hard red winter wheat were lower in the U.S. Plains on Friday as merchandisers rolled their basis bids to the K.C. March hard red winter wheat contract KWH26 from the December contract KWZ25, dealers reported.
Markets were closed on Thursday.
Trade was quiet between Thursday's Thanksgiving holiday and ahead of the weekend.
Dealers adjusted bids lower to reflect higher prices for the March contract.
K.C. March hard red winter wheat KWH26 futures were last down 3/4 cent to $5.29-1/4 per bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -60 | + | H | -50 | + | Z | $4.69 |
Newton | -85 | + | H | -75 | + | Z | $4.44 |
Goodland | -90 | + | H | -88 | + | Z | $4.39 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 125 | + | Z | 125 | + | Z | $6.54 |
Galveston | 100 | + | Z | 110 | + | Z | $6.29 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -30 | + | Z | -30 | + | Z | $4.99 |
Catoosa | -10 | + | Z | -10 | + | Z | $5.19 |
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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