US Plains HRW Wheat-Basis steady; rains cross Kansas
CHICAGO, Oct 21 (Reuters) -Spot basis bids for hard red winter wheat held steady in the southern U.S. Plains on Monday, dealers said, as showers crossed parched areas of Kansas and Nebraska.
* Rainfall totals were said to be light, and more than three-quarters of the HRW wheat production belt is expected to remain too dry into November, the Commodity Weather Group said in a daily client note.
* The U.S. Department of Agriculture said seeding of the 2025 winter wheat crop was 73% complete by Sunday, behind the five-year average of 76%.
* Protein premiums for HRW wheat shipped by rail to or through Kansas City rose by 5 cents for wheat with 12.6% and 12.8% protein, while premiums for other grades were unchanged. KCBT/SCA
* K.C. December hard red winter wheat KWZ24 settled up 1-1/2 cents at $5.82-1/4 a bushel.
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -6 | + | Z | -6 | + | Z | $5.76 |
Newton | -35 | + | Z | -35 | + | Z | $5.47 |
Goodland | -75 | + | Z | -75 | + | Z | $5.07 |
TEXAS | |||||||
Gulf track* | 105 | + | Z | 105 | + | Z | $6.87 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.82 |
OKLAHOMA | |||||||
Enid | -17 | + | Z | -17 | + | Z | $5.65 |
Catoosa | -10 | + | Z | -10 | + | 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 Julie Ingwersen; Editing by David Gregorio
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