US Plains HRW Wheat-Basis bids steady-lower after active farmer sales this week
DBA•Export sales and protein premiums
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The U.S. Department of Agriculture reported U.S. wheat export sales in the week ended July 9 at a net 235,102 metric tons, below trade estimates for 250,000 to 600,000 tons. The total included 20,966 tons of hard red winter wheat.
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Protein premiums for wheat shipped to and through Kansas City fell 5 cents for wheat with 11.6% protein content and were down 10 to 20 cents for 13% to 13.6% protein content. They were unchanged for all other types of wheat. KCBT/SCA
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K.C. September wheat futures KWU26 were down 3-1/4 cents near midday on Thursday at $7.16-3/4 per bushel.
Basis values quoted against futures
Basis values are quoted against futures in cts/bu:
| Location | Current basis | Previous basis | Cash price |
|---|---|---|---|
| Wichita | -34 | -34 | $6.83 |
| Newton | -59 | -59 | $6.58 |
| Goodland | -65 | -65 | $6.52 |
| Gulf track* | 115 | 115 | $8.32 |
| Galveston** | 95 | 95 | $8.12 |
| Enid | -25 | -25 | $6.92 |
| Catoosa | -30 | -25 | $6.87 |
NOTES:
H = March, K = May, N = July, U = September
Z = December; UNQ = Unquoted bids
