Basis bids steady in a day of slow trade
Basis bids for hard red winter wheat were flat in the U.S. Plains on Wednesday, with rains slowing the trade, according to dealers.
More rain is expected in the southern Plains in the coming weeks, according to forecaster Vaisala.
Farmers are planting the U.S. winter wheat crop that will be harvested next year.
K.C. December hard red winter wheat (KWZ25) ended 4-3/4 cents lower at $5.06-3/4 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -60 | + | Z | -60 | + | U | $4.47 |
Newton | -85 | + | Z | -85 | + | U | $4.22 |
Goodland | UNQ | + | UNQ | + | UNQ | ||
TEXAS | |||||||
Gulf track* | 85 | + | Z | 85 | + | U | $5.92 |
Galveston** | 100 | + | Z | 100 | + | U | $6.07 |
OKLAHOMA | |||||||
Enid | -30 | + | Z | -30 | + | U | $4.77 |
Catoosa | -30 | + | Z | -30 | + | U | $4.77 |
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
* U.S. weekly wheat crop progress
* U.S. forward basis (WHEAT/BASIS)
* U.S. Midwest cash grain PM
* U.S. CIF Gulf Grain
* U.S. FOB Gulf Grain
