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U.S. Plains HRW Wheat-Bids flat; prices too low for farmers

Reuters · 11/15/2022 11:45
U.S. Plains HRW Wheat-Bids flat; prices too low for farmers

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

* Prices were too low to drum up farmers' interest in booking sales, an Oklahoma dealer said.

* The U.S. Agriculture Department said on Monday afternoon that good to excellent ratings for the hard red winter wheat crop rose 2 percentage points to 32% in the latest week. A year ago, the crop was rated 46% good to excellent. US/WHE

* Protein premiums for hard red winter wheat delivered by rail to or through Kansas City were unchanged for all grades of wheat, according to CME Group data.

* At 10:30 a.m. CST (1630 GMT); K.C. December hard red winter wheat futures KWZ2 were down 1-3/4 cents at $9.54-1/2 per bushel.

Basis values are quoted against futures in cts/bu:


Current



Previous



Cash


basis



basis



price

KANSAS








Wichita

-12

+

Z

-12

+

Z

$9.43

Newton

-46

+

Z

-46

+

Z

$9.09

Goodland

-50

+

Z

-50

+

Z

$9.05








TEXAS







Gulf track*

+175

+

Z

+175

+

Z

$11.30

Galveston**

+100

+

Z

+100

+

Z

$10.55








OKLAHOMA







Enid

-15

+

Z

-15

+

Z

$9.40

Catoosa

+15

+

Z

+15

+

Z

$9.70

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 Mark Weinraub; editing by Jonathan Oatis)

((mark.weinraub@thomsonreuters.com; +1 313 484 5282; Reuters Messaging: mark.weinraub.thomsonreuters.com@reuters.))