US Plains HRW Wheat-Basis mostly steady
CHICAGO, March 25 (Reuters) - Basis bids for hard red winter (HRW) wheat were mostly unchanged in a spot check of locations in the southern U.S. Plains on Wednesday.
Dry weather in the Southern Plains continues to stress the winter wheat crop. Limited rains are forecast for the region in the coming weeks, but are crucial to avoid crop losses, according to Commodity Weather Group.
Protein premiums for railcar wheat shipped to and through Kansas City on Wednesday fell 3 cents for wheat with 12.6% to 13% protein. They were unchanged for all other grades of wheat.
K.C. May hard red winter wheat KWK26 gained 13-3/4 cents to close at $6.17-3/4 a bushel.
Basis values are quoted against futures in cts/bu:
| Current |
|
| Previous |
|
| Cash |
| basis |
|
| basis |
|
| price |
KANSAS |
|
|
|
|
|
|
|
Wichita | -58 | + | K | -58 | + | K | $5.60 |
Newton | -83 | + | K | -83 | + | K | $5.35 |
Goodland | -90 | + | K | -90 | + | K | $5.28 |
|
|
|
|
|
|
|
|
TEXAS |
|
|
|
|
|
|
|
Gulf track* | 105 | + | K | 115 | + | K | $7.23 |
Galveston | 100 | + | K | 100 | + | K | $7.18 |
|
|
|
|
|
|
|
|
OKLAHOMA |
|
|
|
|
|
|
|
Enid | -30 | + | K | -30 | + | K | $5.88 |
Catoosa | 0 | + | K | UNQ | + | K | $6.18 |
NOTES:
H = March, K = May, N = July, U = September
Z = December; UNQ = Unquoted bids
0 = Spot 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
