US Plains HRW Wheat-Basis bids hold steady, protein premiums dip
CHICAGO, July 25 (Reuters) -Spot basis bids for hard red winter wheat were flat on Thursday in the southern U.S. Plains while protein premiums weakened.
* Protein premiums for HRW wheat shipped by rail to or through Kansas City fell by 10 cents a bushel for wheat with 11% and 11.2% protein. Premiums dropped by 2 cents to 5 cents a bushel for wheat with 11.6% to 12.8% protein.
* Farmers are expected to harvest a large crop of high-protein hard red spring wheat in North Dakota. An annual crop tour projected the state's spring wheat yield will be highest ever, according to records going back to 1992.
* The U.S. Department of Agriculture reported weekly U.S. wheat export sales of 309,300 metric tons for 2024/2025, down 46% from the prior four-week average.
* K.C. September HRW wheat futures KWU24 were down 6 cents at $5.61-1/2 per bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -3 | + | U | -3 | + | U | $5.70 |
Newton | -32 | + | U | -32 | + | U | $5.41 |
Goodland | -55 | + | U | -55 | + | U | $5.18 |
TEXAS | |||||||
Gulf track* | +120 | + | U | +120 | + | U | $6.93 |
Galveston** | +100 | + | U | +100 | + | U | $6.73 |
OKLAHOMA | |||||||
Enid | -15 | + | U | -15 | + | U | $5.58 |
Catoosa | +0 | + | U | +0 | + | U | $5.73 |
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 Tom Polansek
Editing by Marguerita Choy
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