US Plains HRW Wheat-Basis bids mostly steady on light demand, slow farmer sales
DBA•Futures and protein premiums
Chicago Board of Trade HRW wheat futures rebounded from a three-week low on Tuesday to close higher for the first time in three sessions. Benchmark December futures KWZ26 gained 3-1/2 cents to $7.96 per bushel.
Protein premiums for railcar HRW wheat to and through Kansas City fell 5 cents for wheat with 12.6%-12.8% protein and were unchanged for all other grades of wheat. KCBT/SCA
Quoted basis values in the Plains
Basis values are quoted against futures in cts/bu:
| Location | Current basis | Previous basis | Cash price |
|---|---|---|---|
| Kansas | |||
| Wichita | -44 + Z | -44 + Z | $7.52 |
| Newton | -69 + Z | -69 + Z | $7.27 |
| Goodland | -65 + Z | -65 + Z | $7.31 |
| Texas | |||
| Gulf track* | +93 + Z | +93 + Z | $8.89 |
| Galveston** | +85 + Z | +85 + Z | $8.81 |
| Oklahoma | |||
| Enid | -25 + Z | -25 + Z | $7.71 |
| Catoosa | -50 + Z | -50 + Z | $7.46 |
Notes: H = March, K = May, N = July, U = September; Z = December; UNQ = Unquoted bids; 0 = Spot Option price; NC = No comparison.
