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.
March 29, 2024
CBOT May SRW closed at
$5.62/bu
Up 7 cents
KCBT May HRW ended at
$5.87/bu
Down 4 cents
MGE May HRS traded at
$6.47/bu
Down 15 cents
Basis levels ended the week varied. HRS basis was down in both the Gulf and PNW. With HRS futures stabilizing over recent weeks, basis values have started trending downward as exporters position HRS to be competitive against other origins. HRW basis was flat in the Gulf and down in the PNW. New crop basis values are continuing to drop compared to nearby levels. The spread between Gulf and PNW basis values has remained narrow since Jan. 2024. The SRW basis fell, which kept prices stable on the week, while SW prices rose due to recent demand.