US wheat market

The HRW cash markets continue to be rock solid, with premiums trading a nickel higher on the spot for mid-11’s, and 11% protein HRW trains trading at +112 KWH for Jan/Feb/Mar. Gulf Track HRW 12% protein: Nov +200/215 KWZ, Dec +205/215 KWZ, J/F/M +195/210 KWH, A/M +190/205 KWK, and J/J +165/180 KWN. 11% protein: Nov +115/120 KWZ, J/F/M +110/115 KWH, A/M +100/110 KWK. Ordinaries Dec: +80/95 and deferred bid +70 the option with no offer.

The SRW domestic market continues to trade big values, well on the offer side. Trades late last week included +30 WZ fob Chicago equivalent, +40 WZ fob St. Louis, and two trades into southcentral Ohio mills at +60 WZ & +50 WH. There were no new trades to report today, but the market remains firm.

Spring wheat spot market closed unchanged to down 10 ct/bu for the 22 singles and 1 train for sale. Most of the cars for sale were not milling quality with 3 red spring 15.6% protein trading at +180Z and 12 CP 15% protein trading at +145Z. There was a BN 13.8% protein train that traded at +90Z and the remaining singles were 14.1% protein that traded at +150Z.

The PNW is pricing a Korea tender for two cargos of the usual mix of hard wheat, spring wheat, and white wheat for May shipment. PNW cash markets are called firm and unchanged.

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