# U.S. Wheat Export Basis to Remain High Until March 2021 - U.S. Wheat Associates

> U.S. Wheat Associates reports that limited export elevation capacity is keeping U.S. wheat export basis high for October 2020 to February 2021 deliveries. Chinese purchases have been very large, with wheat sales to China at 2.06 million tonnes.

- Date: 2020-12-10 · published 2020-12-10T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/49692-u-s-wheat-export-basis-to-remain-high-until-march-2021-u-s-wheat-associates
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

High export basis raises the cost of US wheat in export markets, and basis is expected to ease from March 2021 as seasonal Chinese demand falls.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-10-15 | [U.S. Wheat Export Prices Firm on Higher Futures Prices and Export Basis Values - U.S. Wheat Associates](https://feedsoft.ai/events/50680-u-s-wheat-export-prices-firm-on-higher-futures-prices-and-export-basis-values-u.md) | +1.9% | -0.2% |
| WHEAT | 2020-06-24 | [Limited Elevation Capacity Supports Gulf Wheat Export Basis - U.S. Wheat Associates](https://feedsoft.ai/events/52645-limited-elevation-capacity-supports-gulf-wheat-export-basis-u-s-wheat-associates.md) | +0.3% | -5.4% |
| WHEAT | 2020-09-02 | [Secondary Rail Rates, Tight Elevation Capacity Continue to Support Wheat Export Prices - U.S. Wheat Associates](https://feedsoft.ai/events/51171-secondary-rail-rates-tight-elevation-capacity-continue-to-support-wheat-export.md) | +9.4% | +15.3% |
| WHEAT | 2020-12-22 | [CBOT wheat lifts amid export market uncertainty - Markets - Business Recorder](https://feedsoft.ai/events/49689-cbot-wheat-lifts-amid-export-market-uncertainty-markets-business-recorder.md) | +0.2% | +7.6% |
| WHEAT | 2023-02-10 | [Rouen's weekly wheat exports drop to 39,700 tonnes - Fastmarkets](https://feedsoft.ai/events/37326-rouen-s-weekly-wheat-exports-drop-to-39-700-tonnes-fastmarkets.md) | -2.5% | -9.0% |
| KWHEAT | 2020-10-15 | [U.S. Wheat Export Prices Firm on Higher Futures Prices and Export Basis Values - U.S. Wheat Associates](https://feedsoft.ai/events/50680-u-s-wheat-export-prices-firm-on-higher-futures-prices-and-export-basis-values-u.md) | +6.4% | +3.5% |
| KWHEAT | 2020-06-24 | [Limited Elevation Capacity Supports Gulf Wheat Export Basis - U.S. Wheat Associates](https://feedsoft.ai/events/52645-limited-elevation-capacity-supports-gulf-wheat-export-basis-u-s-wheat-associates.md) | +0.1% | +3.1% |
| KWHEAT | 2020-09-02 | [Secondary Rail Rates, Tight Elevation Capacity Continue to Support Wheat Export Prices - U.S. Wheat Associates](https://feedsoft.ai/events/51171-secondary-rail-rates-tight-elevation-capacity-continue-to-support-wheat-export.md) | -2.1% | +5.4% |

## Sources

- uswheat.org: https://uswheat.org/wheatletter/u-s-wheat-export-basis-to-remain-high-until-march-2021/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.