US Plains HRW Wheat-Basis bids mostly flat, farmers book more sales

NOTES: H = March, K = May, N = July, U = September Z = December; UNQ = Unquoted bids 0 = Spot 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 Tom Polansek in Chicago Editing by Rod Nickel) ([[Thomas.Polansek@thomsonreuters.com](mailto:Thomas.Polansek@thomsonreuters.com])) Basis values are quoted against futures in cts/bu: | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | Current | | | Previous | | | Cash | | | basis | | | basis | | | price | | KANSAS | | | | | | | | | Wichita | -34 | + | U | -34 | + | U | $6.94 | | Newton | -59 | + | U | -59 | + | U | $6.69 | | Goodland | -65 | + | U | -65 | + | U | $6.63 | | | | | | | | | | | TEXAS | | | | | | | | | Gulf track* | +115 | + | U | +115 | + | U | $8.43 | | Galveston** | +95 | + | U | +95 | + | U | $8.23 | | | | | | | | | | | OKLAHOMA | | | | | | | | | Enid | -10 | + | U | -25 | + | U | $7.18 | | Catoosa | -30 | + | U | -30 | + | U | $6.98 | CHICAGO, July 17 (Reuters) - Basis bids for hard red winter wheat were mostly steady in the southern U.S. Plains on Friday as farmers sold more crops to cash in on surging prices, merchandisers said. * Futures prices soared this week on concerns over disruptions to exports from the Black Sea region as supplies were tightening in Europe and North America. * An elevator in northern Oklahoma raised its basis by 15 cents per bushel, citing strong local demand, and said farmers made more sales. * Farmers have sold wheat they harvested this summer and also booked forward contracts for next year's crop, a merchandiser said. * The price rally has been a "blessing" for farmers, the merchandiser said, after some struggled with drought and increased fertilizer costs during the growing season. * K.C. September wheat futures KWU26 were 11-1/4 cents higher at $7.27-3/4 per bushel around midday. The contract has climbed about 8% this week.

US Plains HRW Wheat-Basis bids mostly flat, farmers book more sales

Notes and links

Cash basis table for U.S. Plains locations

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