Basis bids flat to higher
Basis bids for hard red winter wheat were steady to higher in the U.S. Plains on Thursday as futures rose.
Farmers are planting the U.S. winter wheat crop that will be harvested next year.
Drier weather in the central Plains next week is expected to allow planting to progress, according to forecaster Vaisala.
K.C. December hard red winter wheat (KWZ25) ended 5-1/2 cents higher at $5.12-1/4 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -60 | + | Z | -60 | + | Z | $4.52 |
Newton | -85 | + | Z | -85 | + | Z | $4.27 |
Goodland | UNQ | + | UNQ | + | UNQ | ||
TEXAS | |||||||
Gulf track* | 100 | + | Z | 85 | + | Z | $6.12 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.12 |
OKLAHOMA | |||||||
Enid | -30 | + | Z | -30 | + | Z | $4.82 |
Catoosa | -30 | + | Z | -30 | + | Z | $4.82 |
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
