US Plains HRW Wheat-Wheat bids flat with farmer selling quiet
CHICAGO, Nov 26 (Reuters) -Spot basis bids for hard red winter wheat were steady in the U.S. Plains on Tuesday with limited farmer selling, according to merchants.
* U.S. winter wheat crop conditions rose for a fourth straight week, improving more than expected following rains across the Plains this month, according to U.S. Department of Agriculture data released after trading ended on Monday.
* The USDA said 55% of the winter wheat crop was in good to excellent condition as of Sunday, above the average estimate of 51% in a Reuters poll of 13 analysts
* K.C. December hard red winter wheat KWZ24 was up 2-1/2 cents at $5.49 near midday.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -10 | + | Z | -10 | + | Z | $5.39 |
Newton | -39 | + | Z | -39 | + | Z | $5.10 |
Goodland | -75 | + | Z | -60 | + | Z | $4.74 |
TEXAS | |||||||
Gulf track* | 125 | + | Z | 125 | + | Z | $6.74 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.49 |
OKLAHOMA | |||||||
Enid | -15 | + | Z | -15 | + | Z | $5.34 |
Catoosa | 25 | + | Z | 25 | + | Z | $5.74 |
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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