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CHICAGO, Dec 30 (Reuters) – Spot basis bids for hard red winter (HRW) wheat held steady in the southern U.S. Plains in subdued trade on Friday ahead of a three-day weekend, dealers said.
* U.S. markets will be closed on Monday in observance of New Year’s Day, with trade resuming on Tuesday, Jan. 3.
* Protein premiums for hard red winter wheat delivered by rail to or through Kansas City rose by 25 cents a bushel on Friday for wheat with 11.8% protein, while premiums for all other grades were unchanged. KCBT/SCA
* Dry conditions remained a concern for the dormant 2023 HRW crop. Mostly dry weather was expected in the HRW wheat belt through early next week before another storm system brings snow to the central Plains, space technology company Maxar said in a daily weather note.
* The U.S. Department of Agriculture (USDA) reported export sales of U.S. wheat in the week ended Dec. 22 at 511,100 tonnes (old and new crop years combined), above a range of trade expectations for 200,000 to 475,000 tonnes.
* The total included sales of 175,200 tonnes of U.S. HRW wheat, with Mexico listed as the week’s top buyer. EXP/WHE
* K.C. March hard red winter wheat KWH3 futures settled up 21-1/2 cents at $8.88 a bushel but stayed below Tuesday’s four-week high of $8.94-3/4.
Basis values are quoted against futures in cts/bu:
Current
Previous
Cash
basis
basis
price
KANSAS
Wichita
-5
+
H
-5
+
H
$8.83
Newton
-36
+
H
-36
+
H
$8.52
Goodland
-50
+
H
-50
+
H
$8.38
TEXAS
Gulf track*
+157
+
H
+157
+
H
$10.45
Galveston**
+100
+
H
+100
+
H
$9.88
OKLAHOMA
Enid
-15
+
H
-15
+
H
$8.73
Catoosa
+65
+
H
+65
+
H
$9.53
NOTES: H = March, K = May, N = July, U = September Z = December; UNQ = Unquoted bids 0 = 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/FOB Gulf Grain GRA/F
(Reporting by Julie Ingwersen; editing by Diane Craft)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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