US Plains HRW Wheat-Spot basis bids flat as futures rise

CHICAGO, May 15 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were steady in a spot check of facilities around the southern U.S. Plains on Thursday as futures rose.

• CBOT July K.C. HRW wheat KWN25 futures closed higher, settling up 5-1/4 cents at $5.28-1/4 a bushel.

• The wheat yield potential in Kansas was estimated at 53 bushels per acre (bpa) on Thursday by crop scouts on the annual Wheat Quality Council tour, the highest since 2021.

• The figure is above the tour's five-year average of 44.3 bpa from 2019-2024, reflecting good rainfall in April that helped to curb the effects of drought. No tour was held in 2020 due to the pandemic.

• Protein premiums for railcar wheat to and through Kansas City rose 7 cents a bushel for "ordinary" wheat, fell 10 cents a bushel for wheat with 12 percent protein and lost 3 cents for wheat with 12.2 percent protein. They were unchanged for other grades.

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