US Plains HRW wheat-basis flat; weekend snow expected in some areas
Sustainability & Environmental Impact
Grains, Cereal & Legumes
Market & Price Trends
Published Feb 12, 2024
Hard red winter (HRW) wheat spot basis bids remained stable in the southern U.S. Plains due to subdued trade and falling K.C. HRW wheat futures. Country elevators have begun moving grain to clear space for the 2024 winter wheat harvest. Protein premiums for HRW wheat shipped by rail to or through Kansas City increased by 5 cents a bushel for wheat with less than 11% protein. A forecasted storm over the weekend is expected to bring beneficial moisture to HRW wheat in parts of southwestern Kansas and the Oklahoma and Texas panhandle regions.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
* Protein premiums for HRW wheat shipped by rail to or through Kansas City rose by 5 cents a bushel for so-called “ordinary” wheat with less than 11% protein. Premiums for other grades were unchanged. * Forecasts called for a weekend storm to bring snow to parts of southwestern Kansas and the Oklahoma and Texas panhandle regions, offering beneficial moisture for HRW wheat following a week of unseasonably warm temperatures. * The benchmark K.C. March HRW wheat contract KWH24 settled up 1/2 cent on ...