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U.S. Plains HRW Wheat-Bids firm for gulf-bound wheat

Reuters · 01/06/2023 10:55
U.S. Plains HRW Wheat-Bids firm for gulf-bound wheat

- Spot basis bids for hard red winter (HRW) wheat firmed on Thursday for wheat shipped to the U.S. Gulf by rail.

* Bids for wheat across the Southern U.S. Plains were steady, dealers said.

* Protein premiums for hard red winter wheat delivered by rail to or through Kansas City fell by 10 cents a bushel on Friday for wheat with protein content of 11.8% and dropped 15 cents for 12% to 14% wheat.

* Premiums for all other grades were unchanged. KCBT/SCA

* K.C. March hard red winter wheat KWH3 futures last added 1/2 cent to $8.40-1/4 a bushel.


Basis values are quoted against futures in cts/bu:


Current



Previous



Cash


basis



basis



price

KANSAS








Wichita

-5

+

H

-5

+

H

$8.35

Newton

-36

+

H

-36

+

H

$8.04

Goodland

-50

+

H

-50

+

H

$7.90








TEXAS







Gulf track*

+162

+

H

+157

+

H

$10.02

Galveston**

+100

+

H

+100

+

H

$9.40








OKLAHOMA







Enid

-15

+

H

-15

+

H

$8.25

Catoosa

+65

+

H

+65

+

H

$9.05

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 in Chicago)

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