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U.S. Plains HRW Wheat-Basis bids steady; winter wheat seedings progress

U.S. Plains HRW Wheat-Basis bids steady; winter wheat seedings progress

Reuters · 09/13/2022 12:42
U.S. Plains HRW Wheat-Basis bids steady; winter wheat seedings progress

- Spot basis bids for hard red winter wheat were steady at truck and rail market terminals across the U.S. southern Plains on Tuesday, grain dealers said.

* U.S. winter wheat was 10% planted by Sunday, September 11, according to the U.S. Department of Agriculture's weekly crop conditions report published Monday afternoon.

* Protein premiums for wheat delivered by rail to or through Kansas City firmed by 7 cents for wheat with 12.8% protein content, added 11 cents for 11.6% through 12.6% protein wheat and gained 18 cents for 13% to 14% protein wheat, according to the latest CME Group data. KCBT/SCA

* All other grades of wheat were unchanged.

* K.C. December hard red winter wheat futures KWZ2 firmed 9-1/2 cents midday on Tuesday to $9.36-1/2 a bushel.

Basis values are quoted against futures in cts/bu:


Current



Previous



Cash


basis



basis



price

KANSAS








Wichita

-12

+

Z

-12

+

U

$8.84

Newton

-48

+

Z

-48

+

U

$8.48

Goodland

-50

+

Z

-50

+

Z

$8.46








TEXAS







Gulf track*

+142

+

Z

+142

+

Z

$10.38

Galveston**

+120

+

Z

+120

+

Z

$9.96








OKLAHOMA







Enid

-20

+

Z

-20

+

Z

$8.76

Catoosa

+50

+

Z

+50

+

Z

$9.41

NOTES: H = March, K = May, N = July, U = September,
Z = December; UNQ = Unquoted bids
0 = 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/FOB Gulf Grain GRA/F


(Reporting by Christopher Walljasper; editing by Jonathan Oatis)

((Christopher.Walljasper@thomsonreuters.com; 1 630 269 3072; Reuters Messaging: christopher.walljasper.thomsonreuters.com@reuters.))