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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