Loading…
Kansas City spot hard red winter wheat basis has sharply weakened because no export program to the Texas Gulf is available after a large harvest. Rail car prices have also risen sharply, with secondary-market premiums up to $1,500 over tariff on some shuttle cars.
Weak HRW basis reflects surplus supply in the interior, and higher rail costs widen the gap between farm prices and export values.
world-grain.comMatt NoltemeyerSep 25, 2024After 11 past bearish logistics events, Wheat (HRW) moved a median -0.3% over 5 sessions (45% higher; middle half -2.8% to +0.9%), and +0.4% over 20.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
