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.
April 19, 2024
CBOT May SRW closed at
$5.50/bu
Down 6 cents
KCBT May HRW ended at
$5.82/bu
Down 8 cents
MGE May HRS traded at
$6.47/bu
Up 4 cents
Basis values end the week steady or lower. The supply and demand situation remains unchanged from last week, as many customers await more information on the 2024 wheat crop and the availability/cost of protein. HRW basis values continue to trend below PNW levels as HRW markets normalize. Following the severe drought in the Southern Plains, Gulf HRW basis has remained strong relative to PNW values, highlighting the variability between supply in the PNW and the Gulf.