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US Plains HRW Wheat-Basis bids steady as futures firm

ReutersDec 26, 2024 7:33 PM

- Spot basis bids for hard red winter wheat were unchanged in the U.S. southern Plains on Thursday, a spot check showed, as futures strengthened.

* K.C. HRW March wheat futures KWH25 closed up 7-3/4 cents at $5.51-1/2 a bushel.

* Protein premiums for HRW wheat shipped by rail to or through Kansas City were unchanged on Thursday for all grades of wheat. KCBT/SCA

* Dealers said farmer selling is expected to remain light into the new year.

Basis values are quoted against futures in cts/bu:

Current

Previous

Cash

basis

basis

price

KANSAS

Wichita

-21

+

H

-21

+

H

$5.31

Newton

-50

+

H

-50

+

H

$5.02

Goodland

-62

+

N

-62

+

N

$4.90

TEXAS

Gulf track*

+120

+

H

+120

+

H

$6.72

Galveston**

+100

+

H

+100

+

H

$6.52

OKLAHOMA

Enid

-25

+

H

-25

+

H

$5.27

Catoosa

+10

+

H

+10

+

H

$5.62

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 Renee Hickman; Editing by Leslie Adler)

((renee.hickman@thomsonreuters.com))

Disclaimer: For information purposes only. Past performance is not indicative of future results.