Every Friday, U.S. Wheat Associates (USW) compiles information from market sources, including U.S. wheat exporters of all classes from U.S. export ports. The price indications represent the value of grade number two or better and the proteins indicated. These prices are not intended to represent offers, nor should importers of U.S. wheat rely upon them as such. Actual offers will vary depending on contract specifications, loading terms and other contract terms and conditions. Please contact your export supplier for offers. Subscribe to the USW Price Report to receive it via email every Friday.
June 28, 2024
CBOT September SRW closed at
$5.73/bu
Down 2 cents
KCBT September HRW ended at
$5.86/bu
Down 2 cents
MGE September HRS traded at
$6.13/bu
Down 4 cents
Basis levels ended the week mixed. HRS basis was down in the Gulf and flat in the PNW, maintaining its competitiveness compared to other origins. Meanwhile, HRW basis was up in both the Gulf and the PNW. With robust demand for HRW, a rise in basis is necessary to encourage farmer sales to commercial elevators. Spreads between HRS and HRW remain narrow, which may shift domestic demand in favor of HRS. SRW basis holds steady while SW prices decrease in response to futures market movements.