US Plains HRW wheat-basis bids flat to lower
USO•Hard red winter wheat basis bids were mixed across US Plains locations, while Kansas City December futures fell 20½ cents to $6.19 per bushel. Protein premiums declined by 3 to 10 cents for selected grades.
1. Bids and premiums
Basis bids were mixed in a spot check of US Plains locations as futures fell after a week of quiet trade. Protein premiums for railcar wheat to and through Kansas City dropped 10 cents for 11.8% protein wheat and 3 cents for 12%–12.2% and 12.4%–12.6% protein wheat; premiums for other grades were unchanged, the US Department of Agriculture said.
2. Regional basis levels
Bids were unchanged in Wichita, Newton, Goodland, Gulf track and Galveston. In Oklahoma, Enid basis weakened 5 cents to 25 cents below futures, while Catoosa strengthened 10 cents to 65 cents below futures. Kansas City December hard red winter wheat futures last traded 20½ cents lower at $6.19 per bushel.
