Markets

US Plains HRW Wheat-Basis unchanged as futures inch upward

Published Updated

Technical buying and short-covering lifted Chicago Board of Trade (CBOT) Kansas City HRW contracts. Word that Iraq purchased 500,000 tonnes of US hard red winter wheat added to market support.

At 12:28 p.m. CDT (1828 GMT) CBOT K.C. December HRW wheat was up 3 cents to $4.29-3/4 a bushel.

Protein premiums for railcar wheat to and through Kansas City were unchanged.

 

Copyright Reuters, 2017