US Plains HRW Wheat-Basis bids mostly unchanged as rains hit
CHICAGO, Nov 6 (Reuters) -Spot basis bids for hard red winter (HRW) wheat were mostly steady on Wednesday as rains hit swathes of the U.S. Plains that desperately needed moisture.
* Showers in the central and southern U.S. Plains have slashed dryness over the major wheat-growing region, a note from Commodity Weather Group said.
* Dryness has also plagued wheat-growing areas across the globe, including the Black Sea, Australia and Argentina.
* The basis decreased at a terminal in Enid, Oklahoma.
* Protein premiums for HRW wheat shipped by rail to or through Kansas City was unchanged for all grades of wheat. KCBT/SCA
* K.C. December hard red winter wheat KWZ24 was last down 1-3/4 cents at $5.75 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -10 | + | Z | -10 | + | Z | $5.65 |
Newton | -39 | + | Z | -39 | + | Z | $5.36 |
Goodland | -75 | + | Z | -75 | + | Z | $5.00 |
TEXAS | |||||||
Gulf track* | 125 | + | Z | 125 | + | Z | $7.00 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.75 |
OKLAHOMA | |||||||
Enid | -17 | + | Z | -15 | + | Z | $5.58 |
Catoosa | 10 | + | Z | 10 | + | Z | $5.85 |
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 Heather Schlitz; editing by David Evans
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