US Plains HRW Wheat-Basis steady as futures retreat
WEAT•Cash basis bids in the Plains
| Location | Current basis | Previous basis | Cash price |
|---|---|---|---|
| KANSAS | |||
| Wichita | -34 | -34 | $6.80 |
| Newton | -59 | -59 | $6.55 |
| Goodland | -65 | -65 | $6.49 |
| TEXAS | |||
| Gulf track* | +110 | +110 | $8.24 |
| Galveston** | +90 | +90 | $8.04 |
| OKLAHOMA | |||
| Enid | -10 | -10 | $7.04 |
| Catoosa | -85 | -85 | $6.29 |
- No. 1 12% hard winter wheat, rail bids
** Ordinary protein, rail bids
Basis bids hold steady as futures ease
CHICAGO, Aug. 10 (Reuters) - Basis bids for hard red winter wheat held steady at grain elevators in the southern U.S. Plains on Monday as wheat futures retreated from one-week highs, dealers said.
- Producers booked grain sales in late July as futures prices climbed to multi-year highs, dealers noted last week, and some have been delivering grain to free up on-farm storage space ahead of the upcoming corn harvest.
- The U.S. winter wheat harvest was 91% complete as of Sunday, the U.S. Department of Agriculture said on Monday. Combines were still rolling in the northern Plains, with harvesting 50% complete in Montana and 95% complete in South Dakota, the USDA said.
