US Plains HRW Wheat-Basis bids flat to mixed with limited farmer sales
CHICAGO, Feb 17 (Reuters) - Basis bids for hard red winter wheat were steady to mixed at locations in the Southern U.S. Plains on a day of quiet trade.
Farmer sales were minimal, according to dealers.
Warmer weather and precipitation improved moisture for winter wheat over the weekend. More showers should increase moisture further next week, according to weather forecaster Vaisala.
K.C. March HRW wheat futures KWH26 settled down 3-3/4 at $5.38-3/4 a bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -57 | + | H | -57 | + | H | $4.82 |
Newton | -82 | + | H | -82 | + | H | $4.57 |
Goodland | -90 | + | H | -90 | + | H | $4.49 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | +125 | + | H | +125 | + | H | $6.64 |
Galveston | +100 | + | H | +110 | + | H | $6.39 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -30 | + | H | -40 | + | H | $5.09 |
Catoosa | +15 | + | H | +15 | + | H | $5.54 |
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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