US Plains HRW Wheat-Kansas basis eases; beneficial rains expected
CHICAGO, Oct 29 (Reuters) -Spot basis bids for hard red winter (HRW) wheat were flat to weaker in the southern U.S. Plains on Tuesday in quiet cash trade as K.C. wheat futures rebounded from near two-month lows set a day earlier, merchandisers said.
* The spot basis for wheat fell by 4 cents a bushel at grain elevators in Wichita and Newton, Kansas.
* Farmers in the region are focused on wrapping up the harvest of sorghum, soybeans and corn.
* Producers and market participants await showers forecast for the region later this week that are expected to bring much-needed moisture following months of dry weather.
* Drought and dry conditions have slowed the planting and emergence of the winter wheat crop that will be harvested in 2025. The U.S. Department of Agriculture's first condition ratings for the 2025 winter wheat crop showed 38% of the crop in good to excellent condition, the second-lowest for this time of year in USDA records dating to 1986.
* K.C. December hard red winter wheat KWZ24 settled up 12-3/4 cents on Tuesday at $5.74-1/4 a bushel, supported by the USDA's lower-than-expected winter wheat ratings. GRA/
* Protein premiums for HRW wheat shipped by rail to or through Kansas City rose by 10 cents a bushel for wheat with 11.2% protein and by 12 cents for wheat with 11.4% protein. Premiums for all other grades were unchanged. KCBT/SCA
Basis values are quoted against futures in cts/bu:
Current | Previous | Cash | |||||
basis | basis | price | |||||
KANSAS | |||||||
Wichita | -10 | + | Z | -6 | + | Z | $5.64 |
Newton | -39 | + | Z | -35 | + | Z | $5.35 |
Goodland | -75 | + | Z | -75 | + | Z | $4.99 |
TEXAS | |||||||
Gulf track* | 105 | + | Z | 105 | + | Z | $6.79 |
Galveston** | 100 | + | Z | 100 | + | Z | $6.74 |
OKLAHOMA | |||||||
Enid | -17 | + | Z | -17 | + | Z | $5.57 |
Catoosa | +10 | + | Z | +10 | + | Z | $5.84 |
NOTES:
H = March, K = May, N = July, U = September
Z = December; UNQ = Unquoted bids
0 = Sp 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 Julie Ingwersen; Editing by Sonali Paul
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
