US Plains HRW Wheat-Basis bids mostly stable, farmers make some sales

CHICAGO, March 10 (Reuters) - Spot basis bids for hard red winter wheat were mostly steady in the U.S. Plains on Monday, as higher futures prices sparked some selling by farmers, dealers said.

Farmers sold some of last year's harvest in Kansas but remain reluctant to strike advance deals for their 2025 crops because dry weather is fueling uncertainty about production prospects, a dealer said.

Kansas, the biggest winter wheat-producing state, is slated to be dry for the next two weeks, Commodity Weather Group said in a forecast.

K.C. May hard red winter wheat futures KWK25 settled up 13-3/4 cents at $5.78-1/2 per bushel and touched its highest price since Feb. 28.

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