US Plains HRW Wheat-Wheat bids steady to lower
CHICAGO, Nov 25 (Reuters) -Spot basis bids for hard red winter wheat were steady to lower in the U.S. Plains on Monday as the crop entered dormancy and futures fell.
* Limited showers are forecast for the U.S. Central and Southern Plains wheat belt in the coming weeks, but the crop's moisture needs are declining, according to Commodity Weather Group
* Protein premiums for HRW wheat shipped by rail to or through Kansas City fell by 11 cents for "ordinary" wheat to wheat with 11.8% protein, it fell by 23 cents for wheat with 12.6% protein. It also fell 11 cents for wheat with 12.8% to 14%% protein, except for wheat with 13.6% protein. The basis for that wheat fell by 1 cent. KCBT/SCA
* K.C. December hard red winter wheat KWZ24 finished down 7-1/2 cents at $5.46-1/2.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -10 | + | Z | -10 | + | Z | $5.36 |
Newton | -39 | + | Z | -39 | + | Z | $5.08 |
Goodland | -75 | + | Z | -60 | + | Z | $4.72 |
TEXAS | |||||||
Gulf track* | 125 | + | Z | 125 | + | Z | $6.72 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.47 |
OKLAHOMA | |||||||
Enid | -15 | + | Z | -15 | + | Z | $5.32 |
Catoosa | 25 | + | Z | 25 | + | Z | $5.72 |
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 Jacqueline Wong
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