CHICAGO, May 16 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were steady to higher in a spot check of facilities around the southern U.S. Plains on Friday with farmer selling increasing slightly in some locations, according to dealers.
CBOT July K.C. HRW wheat KWN25 futures settled down 11-3/4 cents at $5.16-1/2 a bushel.
Warmer drier weather in the south central Plains is expected to maintain low moisture for late heading winter wheat in the coming weeks, according to forecaster Vaisala.
Protein premiums for railcar wheat to and through Kansas City rose 8 cents a bushel for wheat with 13.4 percent protein and gained 13 cents for wheat with 13.6 percent protein. They were unchanged for other grades.KCBT/SCA
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -36 | + | N | -36 | + | N | $4.81 |
Newton | -65 | + | N | -65 | + | N | $4.52 |
Goodland | -82 | + | N | -82 | + | N | $4.35 |
TEXAS | |||||||
Gulf track* | 100 | + | N | 100 | + | N | $6.17 |
Galveston** | 100 | + | N | 100 | + | N | $6.17 |
OKLAHOMA | |||||||
Enid | -25 | + | N | -25 | + | N | $4.92 |
Catoosa | +10 | + | N | 0 | + | N | $5.27 |
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 Sandra Maler)
((renee.hickman@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.