The cash markets were dead with HRW traders making their way to the Kansas Grain Convention in Wichita & trying to determine the amount of damage/loss from this weekends’ freeze & lack of moisture. The gulf market was not spoken but the Kansas City domestic market closed up 10 ct/bu on 11.4-11.6% protein. SRW was…
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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…
October 26, 2017
U.S. wheat export sales were in line with estimates, but nothing stellar. HRW was poor and the 50 kmt of unknown sales are believed to be some old Algeria or Moroccan business that had not been reported earlier. This certainly does not justify the rally in basis at the gulf, but there are 1.9 mmt…
