US Plains HRW Wheat-Basis flat as farmers monitor crop conditions

Reuters
04-05
US Plains HRW Wheat-Basis flat as farmers monitor crop conditions

CHICAGO, April 4 (Reuters) - Spot basis bids for hard red winter (HRW) were flat in the U.S. Plains on Friday as farmers remained hesitant to sell their crop due to persistent low prices, while also monitoring the conditions of their nascent wheat crop.

* News that China imposed extra levies of 34% on all U.S. goods dominated trade on Friday as worries deepened over a trade war between the world's two biggest economies, analysts said.

* China has not recently been buying U.S. wheat, though tit-for-tat tariffs have raised fears that U.S. agricultural sales will generally suffer.

* Dry conditions persist in much of the southern Plains, and winter wheat is in need of rain. The latest weekly U.S. Drought Monitor map, released on Thursday, showed "moderate drought" across 59% of top wheat producer Kansas, up from 57% the previous week.

* The U.S. Department of Agriculture is scheduled to release its first national crop progress report of 2025, including condition ratings for U.S. winter wheat, on Monday, April 7.

* K.C. May HRW wheat futures KWK25 settled down 11-1/2 cents to $5.57-1/2 per bushel. MKTS/GLOB

Basis values are quoted against futures in cts/bu:

Current

Previous

Cash

basis

basis

price

KANSAS

Wichita

-41

+

K

-41

+

K

$5.16

Newton

-70

+

K

-70

+

K

$4.87

Goodland

-82

+

K

-82

+

K

$4.75

TEXAS

Gulf track*

110

+

K

110

+

K

$6.67

Galveston**

100

+

K

100

+

K

$6.57

OKLAHOMA

Enid

-45

+

K

-45

+

K

$5.12

Catoosa

20

+

K

20

+

K

$5.77

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. CIF Gulf Grain GRA/C

* U.S. FOB Gulf Grain GRA/F

(Reporting by Heather Schlitz. Editing by Alan Barona)

((Heather.Schlitz@thomsonreuters.com))

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10