US Plains HRW Wheat-Basis bids flat in quiet trading
CHICAGO, Dec 16 (Reuters) -Spot basis bids for hard red winter wheat were unchanged in the U.S. Plains on Monday as farmer selling was light and demand was subdued, according to merchants.
* Wheat-growing areas of the Southern Plains are expected to be drier this week, but chances are more favorable for precipitation next week, according to analysts.
* K.C. HRW March wheat futures <KWH25> were last up 2-1/4 cents at $5.59-1/4 a bushel around midday.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -21 | + | H | -21 | + | Z | $5.38 |
Newton | -50 | + | H | -50 | + | Z | $5.09 |
Goodland | -62 | + | Z | -75 | + | Z | $4.97 |
TEXAS | |||||||
Gulf track* | 120 | + | Z | 120 | + | Z | $6.79 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.59 |
OKLAHOMA | |||||||
Enid | -25 | + | Z | -25 | + | Z | $5.34 |
Catoosa | 20 | + | Z | 20 | + | Z | $5.79 |
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 Mark Porter
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