US Plains HRW Wheat-Basis bids mostly flat, USDA hikes production estimate

CHICAGO, Sept 30 (Reuters) - Basis bids for hard red winter wheat stayed mostly flat at elevators in the southern U.S. Plains on Tuesday, dealers said, as the U.S. Department of Agriculture raised its 2025 production estimate.

• The USDA increased its estimate for hard red winter wheat output to 804 million bushels from 769 million bushels.

• The surprise increase knocked futures prices to contract lows.

• Farmers in Kansas were planting their 2026 wheat crop as rains have delayed the development and harvesting of the autumn corn crop, a grain dealer said.

• Warm and dry weather was expected to favor HRW wheat plantings this week, dealers said.

• The winter wheat crop was 17% planted in Kansas as of Sunday, below the average of 30%, according to the U.S. Department of Agriculture. The state's corn harvest was 29% complete, below the average of 42%.

• K.C. December hard red winter wheat KWZ25 was down 10-1/2 cents at $4.97-3/4 a bushel at the close of trading and set a contract low of $4.96.

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