US Plains HRW Wheat-Basis bids steady as futures stumble

CHICAGO, March 4 (Reuters) - Spot basis bids for hard red winter wheat were flat in the U.S. Midwest on Tuesday as futures fell on heightened concerns that President Donald Trump's trade policy will disrupt U.S. agricultural exports.

U.S. President Donald Trump's new 25% tariffs on imports from Canada and Mexico took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%.

Farmers are hesitant to sell amid low futures prices.

U.S. exporters sold 130,000 metric tons of white wheat to South Korea for 2024/25 delivery on Tuesday, the U.S. Department of Agriculture reported.

The U.S. Department of Agriculture reported export inspections of U.S. wheat in the latest week at 389,593 metric tons, in line with trade expectations for 250,000 to 550,000 tons. USDA/I

Protein premiums for HRW wheat shipped by rail to or through Kansas City increased for wheat with 11%, 11.4% and 11.6% protein. Premiums also increased for wheat with 12.4% to 12.8% protein.

K.C. May hard red winter wheat futures KWK25 last traded down 15 cents to $5.47 per bushel.

Basis values are quoted against futures in cts/bu:

NOTES:

H = March, K = May, N = July, U = September

Z = December; UNQ = Unquoted bids

0 = Sp Option price; NC = No comparison

= No. 1 12% hard winter wheat, rail bids

= Ordinary protein, rail bids

LINKS:

K.C. HRW wheat protein scales KCBT/SCA

U.S. weekly wheat crop progress US/WHE

U.S. forward basis WHEAT/BASIS

U.S. Midwest cash grain PM GRA/PM

U.S. FOB Gulf Grain GRA/F