US Plains HRW Wheat-Wheat bids flat with farmer selling quiet
CHICAGO, Nov 27 (Reuters) -Spot basis bids for hard red winter wheat were steady in the U.S. Plains on Wednesday ahead of the Thanksgiving holiday as futures took a dive.
* The wheat crop everywhere but the far Southern Plains, Delta and Southeast has become dormant, according to Commodity Weather Group.
* Patches of winterkill are expected to stay confined to the far Northern Plains through Monday, CWG said.
* Protein premiums for HRW wheat shipped by rail to or through Kansas City were unchanged for all grades of wheat protein content. KCBT/SCA
* K.C. December hard red winter wheat KWZ24 settled down 24-1/4 cents at $5.26-1/4 per bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -10 | + | Z | -10 | + | Z | $5.16 |
Newton | -39 | + | Z | -39 | + | Z | $4.87 |
Goodland | -75 | + | Z | -60 | + | Z | $4.51 |
TEXAS | |||||||
Gulf track* | 125 | + | Z | 125 | + | Z | $6.51 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.26 |
OKLAHOMA | |||||||
Enid | -15 | + | Z | -15 | + | Z | $5.11 |
Catoosa | 25 | + | Z | 25 | + | Z | $5.51 |
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 Jonathan Oatis
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