April 13, 2013
Spot basis bids for hard red winter wheat were steady in the US Plains and Gulf export markets on Thursday as the region emerged from a bout of severe weather that could injure the new crop. Temperatures dipped below 20 degrees Fahrenheit in western Kansas and parts of Oklahoma and Texas, which could damage wheat, depending upon how mature the stands are.
But while the frigid temperatures, damaging hail and high winds could be harmful to vulnerable new-crop wheat, the storm system also brought moisture to parched, drought-hit soils. Protein premiums for railcar wheat to and through Kansas City were up 3 cents for 11.80 percent protein wheat and unchanged otherwise.
Kansas City Board of Trade May wheat futures’ most recent close was $7.30 per bushel, and the July closed at $7.38. Weekly export sales of US wheat totalled 263,500 tonnes for the 2012/13 marketing year in the latest week, the US Department of Agriculture said on Thursday. That was up 87 percent from the previous week but down 50 percent from the prior four-week average. Source Reuters
Published: Zarai Media Team