US Plains HRW Wheat-Basis bids even in quiet trade, futures lower

ReutersMay 5, 2025 8:46 PM

CHICAGO, May 5 (Reuters) - Spot hard red winter wheat basis bids were unchanged in the U.S. Plains on Monday with most buyers finished rolling their basis bids to the July contract KWN25 ahead of the May contract's expiration date, and futures settling lower.

For the week ending May 4, the U.S. Department of Agriculture rated 51% of hard red winter wheat in good to excellent condition, up from 49% the previous week and 50% a year ago.
Rain is expected in the U.S. Southern Plains, where it will boost soil moisture, according to weather forecaster Vaisala.
K.C. July hard red winter wheat futures KWN25 settled down 8-1/2 cents to $5.32-3/4 per bushel.

Basis values are quoted against futures in cts/bu:

	Current			Previous			Cash
	basis			basis			price
KANSAS
Wichita	-36	+	N	-36	+	N	$4.97
Newton	-65	+	N	-65	+	N	$4.68
Goodland	-82	+	N	-82	+	N	$4.51

TEXAS
Gulf track*	100	+	N	100	+	N	$6.33
Galveston	100	+	N	100	+	N	$6.33

OKLAHOMA
Enid	-45	+	N	-45	+	N	$4.88
Catoosa	0	+	N	0	+	N	$5.33

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

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