March 8 (Reuters) – Basis bids for hard red winter wheat
held steady on Friday in a continued quiet market.
* Dealers said farmers were holding tight to supplies and
little wheat was moving as fears remained in many areas about
reduced new-crop production tied to drought.
* Though conditions have been improving, soil moisture
remains short in many key growing areas.
* Protein premiums for railcar wheat to and through Kansas
City were unchanged.
* Kansas City Board of Trade May wheat futures
settled at $7.34-1/4 in the most recent session.
*
(Cash prices calculated against the most recent settlement)
KANSAS
Wichita -5 + K -5 + K 7.29-1/4
Newton -5 + K -5 + K 7.29-1/4
Goodland -45 + K – 45 + K 6.89-1/4
TEXAS
Gulf track* +1.20 + K + 1.20 + K 8.54-1/4
Galveston** +50 + K + 50 + K 7.84-1/4
OKLAHOMA
Enid 0 + K 0 + K 7.34-1/4
Catoosa +45 + K + 45 + K 7.79-1/4
K= May HRW wheat futures on the Kansas City Board of Trade
NA = Unquoted bids, 0 = Option price.
* = No. 1 12 pct hard winter wheat for March delivery
** = ordinary protein, rail bids for March delivery.
LINKS:
* U.S. weekly wheat crop progress
* U.S. forward basis click on:
* U.S. Midwest cash grain PM
* U.S. CIF Gulf Grain
* U.S. FOB Gulf Grain
(Reporting by Carey Gillam in Kansas City; Editing by Dale
Hudson)
