US Plains HRW Wheat-Basis bids steady as contracts roll over

Reuters
06/28
US Plains HRW Wheat-Basis bids steady as contracts roll over

CHICAGO, June 27 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were flat at elevators and mills in a spot check of the southern U.S. Plains on Friday as some locations began rolling to the September contract.

  • Analysts said farmer selling was picking up in some locations.

  • Protein premiums for railcar wheat shipped to and through Kansas City gained 10 cents for wheat with 12% protein and were unchanged for wheat with all other grades of protein. KCBT/SCA

  • Chicago Board of Trade September K.C. HRW wheat KWU25 futures were unchanged at $5.33-3/4 a bushel.

  • CBOT July K.C. HRW Wheat KWN25 futures ended down 2-1/4 cents at $5.16 a bushel.

Basis values are quoted against futures in cts/bu:

Current

Previous

Cash

basis

basis

price

KANSAS

Wichita

-25

+

N

-25

+

N

$4.91

Newton

-50

+

N

-50

+

N

$4.66

Goodland

-75

+

U

-75

+

N

$4.59

TEXAS

Gulf track*

+105

+

N

+105

+

N

$6.21

Galveston**

+100

+

N

+100

+

N

$6.16

OKLAHOMA

Enid

-10

+

N

-10

+

N

$5.06

Catoosa

0

+

U

0

+

U

$5.34

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 Renee Hickman; Editing by Leslie Adler)

((renee.hickman@thomsonreuters.com))

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